Cencora, Inc. $COR Stock Position Raised by Valley National Advisers Inc.

Key Points

• Valley National Advisers increased its Cencora position by 3,859.6% in the third quarter, owning 7,246 shares valued at approximately $2.18 million. Institutional investors collectively own 97.52% of the company.
• Analysts remain broadly positive on Cencora, with 14 Buy ratings and four Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $366.44.
• Cencora’s latest quarterly results exceeded expectations, with adjusted EPS of $4.48 versus the $4.35 estimate and revenue of $84.75 billion. The company also maintains a quarterly dividend of $0.60 per share, equivalent to a 0.7% yield.

Valley National Advisers Inc. raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 3,859.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,246 shares of the company's stock after buying an additional 7,063 shares during the quarter. Valley National Advisers Inc.'s holdings in Cencora were worth $2,176,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Cencora during the second quarter worth about $5,154,136,000. Bank of America Corp DE boosted its position in Cencora by 6.9% during the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock worth $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi boosted its position in Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company's stock worth $630,855,000 after purchasing an additional 676,066 shares in the last quarter. Carmignac Gestion boosted its position in Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock worth $494,463,000 after purchasing an additional 646,112 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora in the second quarter valued at $483,772,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Transactions at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COR shares. Leerink Partners lifted their target price on shares of Cencora from $380.00 to $388.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 7th. Wells Fargo & Company increased their price target on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Robert W. Baird lifted their price objective on Cencora from $373.00 to $375.00 and gave the stock an "outperform" rating in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and an average target price of $366.44.

Cencora Stock Down 2.3%

Shares of NYSE:COR opened at $330.77 on Friday. 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, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a market capitalization of $63.12 billion, a P/E ratio of 24.57, a PEG ratio of 1.70 and a beta of 0.58. The stock has a 50-day simple moving average of $322.35 and a 200-day simple moving average of $304.06.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.00 EPS. Equities analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's payout ratio is currently 17.83%.

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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