61,769 Shares in Cencora, Inc. $COR Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,769 shares of the company’s stock, valued at approximately $18,546,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vise Technologies Inc. bought a new stake in Cencora in the third quarter worth $2,957,000. Cidel Asset Management Inc. boosted its stake in Cencora by 6.9% during the third quarter. Cidel Asset Management Inc. now owns 1,262 shares of the company’s stock worth $379,000 after buying an additional 81 shares during the period. Avestar Capital LLC purchased a new position in Cencora during the third quarter worth $343,000. State of Wyoming bought a new position in Cencora during the third quarter valued at $271,000. Finally, Raleigh Capital Management Inc. increased its position in Cencora by 8.5% during the third quarter. Raleigh Capital Management Inc. now owns 753 shares of the company’s stock valued at $226,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group cut their price target on shares of Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a research note on Tuesday, September 8th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.38.

Cencora Price Performance

COR opened at $340.51 on Wednesday. The business has a fifty day moving average of $324.08 and a 200 day moving average of $317.45. The stock has a market cap of $64.98 billion, a P/E ratio of 25.30, a PEG ratio of 1.73 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share 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 business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the firm posted $4.00 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.88 EPS for the current year.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Cencora 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.