Truvestments Capital LLC Invests $92,000 in Cencora, Inc. (NYSE:COR)

Truvestments Capital LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 380 shares of the company’s stock, valued at approximately $92,000.

Several other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Cencora during the first quarter valued at about $25,000. Legacy Bridge LLC bought a new position in shares of Cencora during the first quarter valued at about $27,000. TCTC Holdings LLC bought a new position in shares of Cencora during the first quarter valued at about $29,000. TFO Wealth Partners LLC purchased a new stake in Cencora during the first quarter worth about $30,000. Finally, WASHINGTON TRUST Co purchased a new stake in Cencora during the first quarter worth about $32,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other Cencora news, Director Dermot Mark Durcan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the acquisition, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Dermot Mark Durcan purchased 500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the transaction, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 1,899,112 shares of company stock valued at $408,654,376 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. SVB Leerink restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Citigroup boosted their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Robert W. Baird boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $238.78.

Cencora Stock Performance

Cencora stock traded up $0.51 during midday trading on Friday, hitting $227.62. The stock had a trading volume of 1,310,278 shares, compared to its average volume of 1,095,994. The firm’s fifty day moving average is $226.96 and its two-hundred day moving average is $230.60. The company has a market capitalization of $45.40 billion, a PE ratio of 24.90, a P/E/G ratio of 1.58 and a beta of 0.45. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping 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 company had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the firm posted $3.50 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Cencora, Inc. will post 13.46 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.