Cencora, Inc. (NYSE:COR) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,603 shares of the company's stock after buying an additional 1,625 shares during the quarter. Merit Financial Group LLC's holdings in Cencora were worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Concord Wealth Partners bought a new stake in Cencora during the third quarter worth about $30,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Cencora in the 3rd quarter worth approximately $41,000. Fairscale Capital LLC purchased a new stake in shares of Cencora in the 2nd quarter worth approximately $54,000. Finally, Modus Advisors LLC bought a new position in Cencora during the 4th quarter valued at approximately $54,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price target on the stock. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Evercore ISI lifted their target price on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price target on shares of Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $275.60.

Cencora Stock Up 1.3 %

NYSE COR traded up $3.16 during trading on Tuesday, reaching $245.21. 1,188,632 shares of the company's stock traded hands, compared to its average volume of 1,233,627. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $253.27. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a market cap of $47.39 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49. The company's 50 day simple moving average is $237.38 and its two-hundred day simple moving average is $234.15.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is 29.29%.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company's stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last three months. Corporate insiders own 15.80% of the company's stock.

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.