Cencora, Inc. $COR Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Grows Stake

Key Points

• Virginia Retirement Systems increased its Cencora stake by 45.8% in the third quarter, bringing its holdings to 96,833 shares worth approximately $29.1 million. Institutional investors collectively own 97.52% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $368.38. Morgan Stanley and Wells Fargo recently raised their targets to $377 and $395, respectively.
• Cencora exceeded quarterly earnings expectations, reporting $4.48 in adjusted earnings per share and $84.75 billion in revenue, while revenue grew 5.1% year over year. The company also pays a quarterly dividend of $0.60 per share, representing a 0.7% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 45.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,833 shares of the company's stock after acquiring an additional 30,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Cencora worth $29,074,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in COR. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in Cencora during the 2nd quarter valued at about $28,000. Caitlin John LLC acquired a new position in Cencora during the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Cencora in the 1st quarter valued at about $35,000. Finally, Lynch Investment Planning LLC bought a new position in shares of Cencora in the 3rd quarter valued at about $39,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COR. Morgan Stanley boosted their price target on shares of Cencora from $346.00 to $377.00 and gave the stock an "overweight" rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Leerink Partners upped their target price on shares of Cencora from $380.00 to $388.00 and gave the company an "outperform" rating in a research report on Wednesday, October 7th. Finally, Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $368.38.

Cencora Trading Up 0.1%

COR opened at $330.70 on Friday. The firm's fifty day moving average is $323.34 and its two-hundred day moving average is $317.53. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The firm has a market cap of $63.11 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping 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 analysts' expectations of $84.31 billion. During the same period last year, the firm posted $4.00 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company's stock.

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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