61,769 Shares in Cencora, Inc. $COR Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new Cencora position, buying 61,769 shares worth approximately $18.5 million in the third quarter.
• Cencora beat quarterly estimates, reporting EPS of $4.48 versus $4.35 expected and revenue of $84.75 billion; revenue increased 5.1% year over year.
• Analysts maintain a Moderate Buy consensus, with an average price target of $368.38; 14 analysts rate the stock Buy and four rate it Hold.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 61,769 shares of the company's stock, valued at approximately $18,546,000.

Several other institutional investors and hedge funds have also modified their holdings of COR. Vise Technologies Inc. bought a new position in Cencora in the 3rd quarter worth $2,957,000. Cidel Asset Management Inc. lifted its position in Cencora by 6.9% during the third quarter. Cidel Asset Management Inc. now owns 1,262 shares of the company's stock valued at $379,000 after purchasing an additional 81 shares in the last quarter. Avestar Capital LLC bought a new stake in Cencora during the third quarter valued at about $343,000. State of Wyoming bought a new stake in Cencora during the third quarter valued at about $271,000. Finally, Raleigh Capital Management Inc. grew its holdings in Cencora by 8.5% during the third quarter. Raleigh Capital Management Inc. now owns 753 shares of the company's stock valued at $226,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Up 0.8%

COR stock opened at $340.51 on Wednesday. The firm has a fifty day moving average price of $324.08 and a 200 day moving average price of $317.45. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a market cap of $64.98 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the firm earned $4.00 earnings per share. Cencora's revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Cencora, Inc. will post 17.88 earnings per share for the current fiscal year.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings upgraded Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, October 6th. Evercore reaffirmed an "outperform" rating and set a $350.00 price objective (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Finally, Wells Fargo & Company increased their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.38.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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