Eagle Rock Investment Company LLC trimmed its holdings in shares of Cencora, Inc. (NYSE:COR – Free Report) by 38.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,995 shares of the company’s stock after selling 12,635 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Cencora were worth $6,003,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of COR. BlackRock Inc. purchased a new position in Cencora in the second quarter valued at about $5,154,136,000. Bank of America Corp DE grew its stake in Cencora by 6.9% during the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi increased its holdings in Cencora by 43.5% during the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after purchasing an additional 676,066 shares during the last quarter. Carmignac Gestion increased its holdings in Cencora by 58.7% during the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after purchasing an additional 646,112 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $483,772,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
Cencora Stock Performance
Shares of COR stock opened at $340.43 on Thursday. The stock has a market capitalization of $64.96 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.76 and a beta of 0.58. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company’s 50-day simple moving average is $321.45 and its 200-day simple moving average is $303.77. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.
Cencora (NYSE:COR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.00 earnings per share. Equities analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio (DPR) is currently 17.83%.
Analysts Set New Price Targets
Several equities analysts have recently commented on COR shares. Argus increased their target price on Cencora from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America raised their price target on shares of Cencora from $285.00 to $310.00 in a research report on Tuesday, July 21st. Evercore restated an “outperform” rating and issued a $350.00 price target (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. UBS Group dropped their price target on shares of Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Finally, Wells Fargo & Company upped their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.31.
Check Out Our Latest Analysis on COR
Insider Activity at Cencora
In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora 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 transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.
Key Stories Impacting Cencora
Here are the key news stories impacting Cencora this week:
- Positive Sentiment: Cencora agreed to acquire the remaining 96% stake in American Oncology Network, building on its existing 4% ownership. The deal would expand Cencora’s support of community oncology practices and strengthen its presence in oncology services. Reuters acquisition article
- Positive Sentiment: Analysts raised their valuation expectations following the announcement. Argus increased its price target to $380 from $340 and maintained a Buy rating, while Baird lifted its target to $375 from $373. These actions suggest analysts see strategic or earnings potential from the expansion. Argus price target article
- Neutral Sentiment: The acquisition is expected to broaden Cencora’s oncology platform, but investors will likely focus on the purchase price, financing, integration requirements and whether the deal produces sufficient returns. Fierce Healthcare acquisition article
- Neutral Sentiment: UBS reduced its price target to $400, although the revised target remains above Cencora’s recent trading level. The mixed analyst actions indicate differing views on valuation and the acquisition’s near-term effect. UBS price target article
- Negative Sentiment: The transaction’s $2.4 billion cost may be weighing on the stock, particularly because the deal adds near-term capital-allocation and execution risk. A shareholder-law-firm announcement regarding an investigation into American Oncology Network could also add uncertainty around the target company, although it does not itself allege wrongdoing by Cencora. Shareholder investigations announcement
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.
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