Cencora, Inc. $COR Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,411 shares of the company’s stock after selling 2,438 shares during the period. ProShare Advisors LLC’s holdings in Cencora were worth $10,032,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Cencora during the second quarter worth $5,154,136,000. Bank of America Corp DE grew its position in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi increased its stake in Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after buying an additional 676,066 shares during the last quarter. Carmignac Gestion increased its stake in Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after buying an additional 646,112 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora in the 2nd quarter valued at $483,772,000. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. UBS Group decreased their price objective on Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, October 16th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Robert W. Baird lifted their target price on Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $368.38.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on 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 sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.8%

NYSE COR opened at $340.51 on Wednesday. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The stock has a 50 day moving average of $324.08 and a 200-day moving average of $317.45. The company has a market cap of $64.98 billion, a PE ratio of 19.70, a PEG ratio of 1.73 and a beta of 0.58.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.00 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 17.88 EPS for the current fiscal year.

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.