Meridian Wealth Management LLC Buys Shares of 1,666 Cencora, Inc. (NYSE:COR)

Meridian Wealth Management LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,666 shares of the company’s stock, valued at approximately $375,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BOKF NA purchased a new position in shares of Cencora during the 1st quarter valued at about $260,000. SVB Wealth LLC bought a new position in shares of Cencora during the 1st quarter valued at $598,000. Ascent Group LLC purchased a new position in Cencora in the 1st quarter worth $471,000. Silvercrest Asset Management Group LLC bought a new stake in Cencora in the first quarter worth $7,976,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Cencora during the first quarter valued at about $705,000. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Bank of America reiterated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 0.3 %

Shares of NYSE:COR opened at $245.02 on Monday. The firm has a market capitalization of $48.28 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.63 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The stock has a 50 day moving average price of $233.22 and a 200-day moving average price of $231.65. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56.

Cencora Increases Dividend

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