Quest Partners LLC Lowers Holdings in Cencora, Inc. (NYSE:COR)

Quest Partners LLC reduced its position in Cencora, Inc. (NYSE:COR) by 12.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,840 shares of the company’s stock after selling 1,423 shares during the quarter. Quest Partners LLC’s holdings in Cencora were worth $2,215,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of COR. New Millennium Group LLC acquired a new position in shares of Cencora during the second quarter worth about $26,000. TFO Wealth Partners LLC purchased a new stake in Cencora in the 1st quarter valued at approximately $30,000. MFA Wealth Advisors LLC acquired a new position in Cencora during the 2nd quarter worth approximately $30,000. Concord Wealth Partners purchased a new position in shares of Cencora during the 3rd quarter worth approximately $30,000. Finally, LRI Investments LLC purchased a new position in shares of Cencora during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COR. Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Price Performance

Shares of NYSE COR opened at $242.87 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a market capitalization of $47.86 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a twelve month low of $194.56 and a twelve month high of $251.56. The business has a 50 day simple moving average of $232.62 and a 200-day simple moving average of $231.04.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio is 27.16%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated 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 sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.80% of the company’s stock.

Cencora 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.