Oppenheimer Asset Management Inc. Trims Stock Holdings in Cencora, Inc. (NYSE:COR)

Oppenheimer Asset Management Inc. lowered its stake in Cencora, Inc. (NYSE:COR) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,845 shares of the company’s stock after selling 607 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cencora were worth $6,267,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COR. Kingsview Wealth Management LLC purchased a new stake in shares of Cencora in the 1st quarter valued at $681,000. Blair William & Co. IL purchased a new stake in Cencora during the first quarter worth about $5,520,000. Orion Portfolio Solutions LLC purchased a new position in shares of Cencora in the first quarter valued at approximately $3,026,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $288,000. Finally, 1ST Source Bank acquired a new position in shares of Cencora in the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

COR has been the subject of several recent research reports. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is currently owned by insiders.

Cencora Price Performance

COR stock opened at $243.41 on Friday. The business has a 50 day moving average price of $232.38 and a 200 day moving average price of $231.00. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $191.11 and a fifty-two week high of $251.56.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

Cencora Company Profile

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.