Latitude Advisors LLC Makes New $821,000 Investment in Cencora, Inc. $COR

Latitude Advisors LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,734 shares of the company’s stock, valued at approximately $821,000.

Several other large investors also recently modified their holdings of COR. Deutsche Bank AG bought a new position in Cencora in the 2nd quarter worth $286,673,000. Impact Partnership Wealth LLC bought a new stake in shares of Cencora during the first quarter worth $1,170,000. SEB Asset Management AB bought a new stake in Cencora during the 1st quarter valued at about $134,139,000. Wedge Capital Management L L P NC grew its stake in Cencora by 31.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock worth $29,887,000 after acquiring an additional 24,968 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cencora during the second quarter valued at approximately $841,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora 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 completion of the transaction, the executive vice president directly 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on COR. Wells Fargo & Company raised their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a report on Tuesday, September 8th. Robert W. Baird lifted their target price 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. Evercore restated an “outperform” rating and issued a $350.00 price objective (up from $330.00) on shares of Cencora in a report on Thursday, August 6th. Finally, Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $366.44.

Cencora Stock Performance

Shares of COR opened at $325.09 on Wednesday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a market capitalization of $62.04 billion, a PE ratio of 24.15 and a beta of 0.58. The stock has a fifty day moving average of $322.60 and a two-hundred day moving average of $317.67.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same period in the prior year, the firm earned $4.00 EPS. Cencora’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal 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 dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

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.