Verdence Capital Advisors LLC Grows Holdings in Cencora, Inc. (NYSE:COR)

Verdence Capital Advisors LLC lifted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,183 shares of the company's stock after purchasing an additional 4,612 shares during the quarter. Verdence Capital Advisors LLC's holdings in Cencora were worth $6,343,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COR. Lake Street Advisors Group LLC increased its stake in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company's stock valued at $769,000 after acquiring an additional 43 shares during the last quarter. Financial Advocates Investment Management increased its stake in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company's stock valued at $220,000 after acquiring an additional 44 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company's stock valued at $499,000 after acquiring an additional 48 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Cencora by 1.3% in the third quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company's stock valued at $826,000 after acquiring an additional 48 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company's stock valued at $353,000 after acquiring an additional 51 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Trading Up 0.3 %

COR stock traded up $0.65 during midday trading on Friday, hitting $248.41. The stock had a trading volume of 1,376,073 shares, compared to its average volume of 1,341,350. The firm has a market cap of $48.95 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 1-year low of $191.11 and a 1-year high of $251.00. The business has a fifty day moving average price of $231.95 and a two-hundred day moving average price of $230.79.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.89%. Cencora's payout ratio is presently 27.16%.

Analyst Ratings Changes

A number of brokerages have weighed in on COR. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday. Evercore ISI raised their target price on shares of Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday. Leerink Partners cut their target price on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Finally, Bank of America restated a "neutral" rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $271.20.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The shares were 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 approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.80% of the stock is owned by company insiders.

About Cencora

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.