Equity Investment Corp Makes New Investment in Cencora, Inc. (NYSE:COR)

Equity Investment Corp bought a new position in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,063 shares of the company’s stock, valued at approximately $501,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COR. Vanguard Group Inc. purchased a new stake in Cencora in the fourth quarter worth $4,212,508,000. Bank of New York Mellon Corp bought a new stake in Cencora in the 1st quarter valued at about $291,825,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Cencora during the first quarter valued at about $238,457,000. Mawer Investment Management Ltd. bought a new position in Cencora during the first quarter worth about $191,309,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in Cencora during the first quarter worth about $119,762,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dermot Mark Durcan purchased 500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dermot Mark Durcan purchased 500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was purchased at an average price of $218.58 per share, with a total value of $109,290.00. Following the transaction, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders have sold a total of 1,956,675 shares of company stock worth $422,352,056 in the last quarter. 15.80% of the stock is owned by company insiders.

Cencora Price Performance

COR traded up $0.60 on Friday, hitting $222.60. 791,079 shares of the company’s stock were exchanged, compared to its average volume of 1,453,087. The firm has a 50-day moving average price of $226.65 and a 200-day moving average price of $229.26. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.54 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $3.50 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora’s payout ratio is 22.32%.

Wall Street Analysts Forecast Growth

COR has been the subject of several analyst reports. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink restated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird increased their price target on shares of Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.10.

Cencora Company 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.