Valley National Advisers Inc. Purchases 7,063 Shares of Cencora, Inc. $COR

Valley National Advisers Inc. increased its holdings in Cencora, Inc. (NYSE:COR) by 3,859.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,246 shares of the company’s stock after purchasing 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 Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Cencora by 2.0% during the 3rd quarter. Signaturefd LLC now owns 4,586 shares of the company’s stock worth $1,377,000 after acquiring an additional 90 shares during the period. Simplicity Wealth LLC grew its stake in shares of Cencora by 53.2% in the third quarter. Simplicity Wealth LLC now owns 1,619 shares of the company’s stock worth $486,000 after purchasing an additional 562 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Cencora by 2.6% during the third quarter. Sowell Financial Services LLC now owns 4,296 shares of the company’s stock valued at $1,290,000 after purchasing an additional 108 shares during the period. Manchester Capital Management LLC increased its holdings in shares of Cencora by 5.6% during the third quarter. Manchester Capital Management LLC now owns 2,932 shares of the company’s stock valued at $880,000 after purchasing an additional 155 shares during the period. Finally, Capital Investment Advisors LLC increased its holdings in shares of Cencora by 6.2% during the third quarter. Capital Investment Advisors LLC now owns 2,275 shares of the company’s stock valued at $683,000 after purchasing an additional 133 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Trading Down 2.3%

Shares of Cencora stock opened at $330.77 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market cap of $63.12 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The business has a fifty day simple moving average of $322.35 and a 200-day simple moving average of $304.06. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $4.00 earnings per share. On average, equities analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the company’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 completion of the sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents 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. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley raised their target price on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Leerink Partners boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Bank of America upped their price target on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $366.44.

Cencora 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.