abrdn plc Reduces Position in Cencora, Inc. (NYSE:COR)

abrdn plc trimmed its stake in Cencora, Inc. (NYSE:COR) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 379,612 shares of the company’s stock after selling 7,471 shares during the period. abrdn plc’s holdings in Cencora were worth $85,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of COR. State Street Corp increased its position in Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC increased its holdings in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares in the last quarter. Pacer Advisors Inc. raised its stake in Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after acquiring an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock valued at $17,790,912 over the last 90 days. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 1.2 %

Shares of COR opened at $251.31 on Wednesday. The business’s 50 day simple moving average is $239.00 and its 200-day simple moving average is $236.39. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $261.25. 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 stock has a market capitalization of $48.57 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research 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. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.40.

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.