Camden National Bank Invests $344,000 in Cencora, Inc. (NYSE:COR)

Camden National Bank purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,529 shares of the company’s stock, valued at approximately $344,000.

Several other large investors have also recently bought and sold shares of COR. Boston Partners acquired a new position in Cencora during the first quarter valued at approximately $1,001,269,000. Pacer Advisors Inc. boosted its position in Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Cencora during the first quarter valued at approximately $223,970,000. DekaBank Deutsche Girozentrale acquired a new position in Cencora during the first quarter valued at approximately $128,825,000. Finally, Lazard Asset Management LLC acquired a new position in Cencora during the first quarter valued at approximately $90,298,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $245.02 on Friday. The business’s 50 day moving average is $233.12 and its 200-day moving average is $231.47. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. 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 firm has a market cap of $48.28 billion, a P/E ratio of 32.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

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.