Cencora, Inc. $COR Stock Holdings Boosted by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 17.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,576 shares of the company’s stock after purchasing an additional 2,272 shares during the period. Sigma Investment Counselors Inc.’s holdings in Cencora were worth $4,677,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of Cencora in the second quarter worth about $28,000. Caitlin John LLC acquired a new position in shares of Cencora in the second quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cencora in the first quarter worth approximately $35,000. Finally, Lynch Investment Planning LLC purchased a new position in shares of Cencora in the third quarter worth approximately $39,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Elizabeth Campbell sold 11,300 shares of Cencora 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 sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by corporate insiders.

Cencora Trading Down 1.5%

Shares of NYSE:COR opened at $325.09 on Wednesday. The firm 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 1 year low of $244.82 and a 1 year high of $377.54. The business has a fifty day simple moving average of $322.60 and a 200 day simple moving average of $317.67.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter last year, the firm earned $4.00 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm 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 was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is 17.83%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Leerink Partners increased their target price on Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. raised their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company lifted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, UBS Group dropped their price target on Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.44.

About Cencora

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.