Ascent Group LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Ascent Group LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,938 shares of the company’s stock, valued at approximately $471,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Cencora during the 1st quarter worth approximately $25,000. Legacy Bridge LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $27,000. TCTC Holdings LLC bought a new position in Cencora in the first quarter worth $29,000. TFO Wealth Partners LLC purchased a new position in Cencora during the first quarter valued at $30,000. Finally, WASHINGTON TRUST Co bought a new stake in shares of Cencora during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of NYSE:COR traded up $4.76 during midday trading on Tuesday, reaching $231.94. The company’s stock had a trading volume of 451,829 shares, compared to its average volume of 1,356,938. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The firm has a market capitalization of $46.26 billion, a PE ratio of 24.86, a P/E/G ratio of 1.58 and a beta of 0.45. The stock has a fifty day moving average of $227.08 and a 200 day moving average of $230.76.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 earnings per share. On average, equities analysts expect that Cencora, Inc. will post 13.46 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, May 9th. Cencora’s payout ratio is 22.32%.

Insiders Place Their Bets

In related news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the 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 sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gina Clark sold 1,874 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the sale, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The disclosure for this sale can be found here. Insiders have sold 1,899,112 shares of company stock worth $408,654,376 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. SVB Leerink reiterated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Robert W. Baird lifted their target price on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Citigroup boosted their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

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.