2,617 Shares of Cencora, Inc. $COR Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the third quarter, Holdings Channel.com reports. The fund purchased 2,617 shares of the company’s stock, valued at approximately $786,000.

Several other hedge funds have also made changes to their positions in COR. Brighton Jones LLC grew its stake in shares of Cencora by 7.7% in the third quarter. Brighton Jones LLC now owns 1,467 shares of the company’s stock worth $441,000 after acquiring an additional 105 shares in the last quarter. Candriam S.C.A. raised its stake in shares of Cencora by 15.9% in the third quarter. Candriam S.C.A. now owns 27,379 shares of the company’s stock valued at $8,251,000 after acquiring an additional 3,749 shares in the last quarter. Ethic Inc. raised its stake in shares of Cencora by 22.0% in the third quarter. Ethic Inc. now owns 9,405 shares of the company’s stock valued at $2,824,000 after acquiring an additional 1,695 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Cencora by 5.5% in the third quarter. Parallel Advisors LLC now owns 7,621 shares of the company’s stock valued at $2,288,000 after acquiring an additional 395 shares in the last quarter. Finally, Waycross Partners LLC purchased a new position in Cencora in the third quarter valued at $1,879,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $348.54 on Wednesday. The firm has a market capitalization of $66.51 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.79 and a beta of 0.58. The business’s fifty day moving average price is $326.05 and its 200 day moving average price is $317.23. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.94 and a quick ratio of 0.59. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

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

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be given a dividend of $0.66 per share. 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 13.39%.

Insiders Place Their Bets

In related 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 transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COR has been the subject of several analyst reports. UBS Group lowered their target price on Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Evercore restated an “outperform” rating and set a $350.00 price target (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Cencora from $390.00 to $413.00 and gave the company an “overweight” rating in a research report on Tuesday. Argus lifted their price objective on Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Finally, Weiss Ratings raised Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $368.14.

Cencora Profile

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.