Camden National Bank Makes New Investment in Cencora, Inc. (NYSE:COR)

by · The Markets Daily

Camden National Bank acquired a new position in Cencora, Inc. (NYSE:COR – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,529 shares of the company’s stock, valued at approximately $344,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new position in Cencora in the second quarter worth $655,000. Czech National Bank raised its position in shares of Cencora by 8.3% during the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Cencora during the first quarter worth $14,093,000. Mackenzie Financial Corp raised its position in shares of Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after acquiring an additional 7,266 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Cencora during the first quarter worth $708,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 0.3 %

Shares of Cencora stock opened at $245.02 on Friday. Cencora, Inc. has a 1 year low of $195.83 and a 1 year high of $251.56. The business has a 50-day moving average of $233.12 and a two-hundred day moving average of $231.47. The company has a market capitalization of $48.28 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio is 29.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COR shares. Leerink Partners dropped their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird upped their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI upped their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $271.20.

View Our Latest Analysis on COR

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Cencora Company Profile

(Free Report)

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.

Further Reading

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