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

Westover Capital Advisors LLC lessened its stake in Cencora, Inc. (NYSE:COR) by 29.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,605 shares of the company’s stock after selling 3,960 shares during the period. Westover Capital Advisors LLC’s holdings in Cencora were worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business’s 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 owned 19,455 shares of the company’s stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COR. Evercore reissued an “outperform” rating and issued a $350.00 price objective (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Leerink Partners raised their price target on Cencora from $380.00 to $388.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Weiss Ratings raised Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.44.

Cencora Price Performance

Shares of COR opened at $330.24 on Tuesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company’s fifty day moving average price is $322.35 and its 200-day moving average price is $317.74. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The firm has a market capitalization of $63.02 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

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

Cencora Dividend Announcement

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

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.