Cencora, Inc. $COR Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC decreased its position in shares of Cencora, Inc. (NYSE:COR) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,411 shares of the company’s stock after selling 2,438 shares during the quarter. ProShare Advisors LLC’s holdings in Cencora were worth $10,032,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG bought a new stake in shares of Cencora in the 2nd quarter valued at $286,673,000. Wedge Capital Management L L P NC raised its stake in Cencora by 31.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock worth $29,887,000 after buying an additional 24,968 shares during the period. SEB Asset Management AB acquired a new stake in Cencora during the 1st quarter worth $134,139,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cencora during the second quarter worth about $841,000. Finally, Peachtree Investment Partners LLC bought a new position in Cencora during the second quarter worth about $2,204,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.8%

Shares of NYSE:COR opened at $340.51 on Wednesday. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. 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 company’s fifty day simple moving average is $324.08 and its 200 day simple moving average is $317.45. The firm has a market cap of $64.98 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.73 and a beta of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.00 EPS. As a group, research analysts forecast that Cencora, Inc. will post 17.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Wells Fargo & Company raised their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Robert W. Baird lifted their price objective on Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $368.38.

Insider Activity

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of Cencora 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 sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

About Cencora

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.