Cencora, Inc. $COR Stake Increased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 8.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 93,319 shares of the company’s stock after acquiring an additional 7,371 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Cencora were worth $28,033,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG bought a new stake in Cencora during the second quarter worth about $286,673,000. SEB Asset Management AB purchased a new position in shares of Cencora during the first quarter worth approximately $134,139,000. Wedge Capital Management L L P NC lifted its holdings in shares of Cencora by 31.0% in 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 acquiring an additional 24,968 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cencora in the 2nd quarter worth approximately $841,000. Finally, Peachtree Investment Partners LLC bought a new stake in shares of Cencora in the 2nd quarter worth approximately $2,204,000. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 2.8%

COR opened at $359.12 on Friday. The business has a 50 day simple moving average of $327.12 and a two-hundred day simple moving average of $317.20. The firm has a market capitalization of $68.53 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.81 and a beta of 0.58. 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 one year low of $244.82 and a one year high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The firm had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. During the same period last year, the company earned $3.84 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Cencora, Inc. will post 19.58 EPS for the current year.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a $0.66 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, November 13th. This represents a $2.64 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 13.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COR shares. Evercore reaffirmed 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. Wells Fargo & Company boosted their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Leerink Partners upped their price target on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Morgan Stanley raised their price objective on Cencora from $346.00 to $377.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Cencora from $390.00 to $413.00 and gave the company an “overweight” rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.