Cencora, Inc. $COR Shares Newly Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,942 shares of the company’s stock, valued at approximately $2,685,000.

A number of other hedge funds have also made changes to their positions in the business. Pinnacle Associates Ltd. raised its position in shares of Cencora by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company’s stock worth $662,000 after acquiring an additional 38 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in Cencora by 0.9% during the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company’s stock worth $1,221,000 after purchasing an additional 40 shares during the last quarter. Signature Equity Partners LLC lifted its stake in Cencora by 4.6% during the first quarter. Signature Equity Partners LLC now owns 937 shares of the company’s stock worth $294,000 after purchasing an additional 41 shares during the last quarter. Mosley Wealth Management boosted its holdings in Cencora by 11.5% in the third quarter. Mosley Wealth Management now owns 407 shares of the company’s stock valued at $122,000 after purchasing an additional 42 shares in the last quarter. Finally, Weaver Consulting Group boosted its holdings in Cencora by 2.5% in the third quarter. Weaver Consulting Group now owns 1,798 shares of the company’s stock valued at $540,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Morgan Stanley raised their price objective on shares of Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Wells Fargo & Company boosted their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Leerink Partners upped their target price on shares of Cencora from $388.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.14.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 19,455 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Cencora Stock Performance

Shares of COR stock opened at $349.96 on Thursday. The stock’s 50-day moving average is $326.43 and its two-hundred day moving average is $317.22. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.59 and a current ratio of 0.94. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The firm has a market cap of $66.78 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.80 and a beta of 0.58.

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

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.8%. This is a positive change from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, November 13th. Cencora’s dividend payout ratio is presently 14.73%.

About Cencora

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.