Cencora, Inc. $COR Stock Purchased by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC increased its holdings in Cencora, Inc. (NYSE:COR) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Cencora makes up 3.3% of Sivik Global Healthcare LLC’s portfolio, making the stock its 12th biggest position. Sivik Global Healthcare LLC’s holdings in Cencora were worth $5,404,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COR. BlackRock Inc. acquired a new position in Cencora in the second quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after buying an additional 4,123,795 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Cencora during the second quarter worth approximately $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Cencora in the second quarter valued at approximately $483,772,000. Finally, Legal & General Group Plc bought a new position in shares of Cencora in the second quarter valued at approximately $339,556,000. 97.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on COR. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. UBS Group raised their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Leerink Partners increased their price target on shares of Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Evercore reissued an “outperform” rating and issued a $350.00 price target (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Finally, Bank of America raised their price target on shares of Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.69.

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by company insiders.

Cencora Trading Up 1.6%

Cencora stock traded up $5.34 during trading hours on Tuesday, reaching $330.40. 394,263 shares of the company’s stock traded hands, compared to its average volume of 1,471,057. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.66 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm’s 50 day moving average is $318.82 and its 200-day moving average is $302.72.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during 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%. Cencora’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.00 EPS. On average, analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

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

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.