3,960 Cencora, Inc. $COR Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 29.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,605 shares of the company’s stock after selling 3,960 shares during the quarter. Westover Capital Advisors LLC’s holdings in Cencora were worth $2,884,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Cencora in the second quarter worth approximately $5,154,136,000. Bank of America Corp DE boosted its stake in shares of Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after purchasing an additional 267,318 shares during the period. Amundi grew its stake in shares of Cencora by 43.5% in the second quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after acquiring an additional 676,066 shares in the last quarter. Carmignac Gestion increased its holdings in Cencora by 58.7% during the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after purchasing an additional 646,112 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora in the second quarter valued at approximately $483,772,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of NYSE:COR opened at $330.24 on Tuesday. The business has a 50-day moving average of $322.35 and a two-hundred day moving average of $317.74. The firm has a market capitalization of $63.02 billion, a PE ratio of 19.30, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

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

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on COR shares. Argus lifted their price target on Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Leerink Partners upped their price target on Cencora from $380.00 to $388.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a research note on Tuesday, September 8th. Finally, Evercore reissued an “outperform” rating and issued a $350.00 target price (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $366.44.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents 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 accessible through this link. 0.38% of the stock is currently owned by corporate insiders.

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.