Oppenheimer & Co. Inc. Acquires 115 Shares of Cencora, Inc. (NYSE:COR)

Oppenheimer & Co. Inc. lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,850 shares of the company’s stock after buying an additional 115 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cencora were worth $1,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new stake in Cencora during the 1st quarter valued at $2,183,619,000. Boston Partners purchased a new stake in Cencora during the 1st quarter valued at $1,001,269,000. Capital Research Global Investors purchased a new stake in Cencora during the 1st quarter valued at $650,424,000. Legal & General Group Plc boosted its position in Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after buying an additional 67,287 shares during the period. Finally, Swedbank AB boosted its position in Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after buying an additional 31,104 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

COR has been the subject of several research analyst reports. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Evercore ISI raised their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Up 1.1 %

NYSE:COR opened at $242.87 on Tuesday. The firm has a market cap of $47.86 billion, a P/E ratio of 32.29, a P/E/G ratio of 1.60 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a fifty-two week low of $194.56 and a fifty-two week high of $251.56. The firm has a 50-day simple moving average of $232.62 and a two-hundred day simple moving average of $231.04.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.