Cencora, Inc. $COR Stock: Sigma Investment Counselors Inc. Increases Holdings

Sigma Investment Counselors Inc. grew its position in Cencora, Inc. (NYSE:COR) by 17.1% during the third quarter, HoldingsChannel reports. The firm owned 15,576 shares of the company’s stock after buying an additional 2,272 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Cencora were worth $4,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of COR. Asset Management One Co. Ltd. raised its holdings in Cencora by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 97,053 shares of the company’s stock worth $29,140,000 after acquiring an additional 2,408 shares during the period. MADDEN SECURITIES Corp bought a new stake in Cencora during the third quarter valued at about $105,000. Lynch Investment Planning LLC bought a new stake in Cencora during the third quarter valued at about $39,000. Latitude Advisors LLC acquired a new stake in shares of Cencora in the third quarter valued at about $821,000. Finally, Balance Wealth Partners LLC acquired a new stake in shares of Cencora in the third quarter valued at about $50,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The shares were 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 owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Down 1.5%

Cencora stock opened at $325.09 on Wednesday. The business has a 50 day moving average price of $322.60 and a two-hundred day moving average price of $317.67. The stock has a market cap of $62.04 billion, a price-to-earnings ratio of 24.15 and a beta 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 announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.00 EPS. On average, analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on COR. Bank of America lifted their price objective on Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. UBS Group decreased 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Argus lifted their price target on Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $366.44.

Cencora Company 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.