3,749 Cencora, Inc. $COR Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its position in Cencora, Inc. (NYSE:COR) by 15.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 27,379 shares of the company’s stock after purchasing an additional 3,749 shares during the period. Candriam S.C.A.’s holdings in Cencora were worth $8,251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COR. Elevation Wealth Partners LLC lifted its holdings in Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Cencora in the second quarter valued at about $28,000. Caitlin John LLC acquired a new stake in Cencora in the 2nd quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cencora in the 1st quarter worth about $35,000. Finally, Lynch Investment Planning LLC acquired a new stake in Cencora in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of Cencora stock opened at $346.16 on Tuesday. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a market cap of $66.06 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.58 and a current ratio of 0.94. The business’s 50 day moving average price is $325.56 and its 200 day moving average price is $317.25.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.08. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The company had revenue of $88.35 billion during the quarter, compared to analysts’ expectations of $87.95 billion. During the same period in the prior year, the business earned $3.84 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Cencora, Inc. will post 19.58 EPS for the current year.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be paid a $0.66 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.64 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio is currently 13.39%.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore reissued an “outperform” rating and set a $350.00 target price (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Morgan Stanley lifted their price target on Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $366.50.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.