Wahed Invest LLC Purchases Shares of 2,759 Cencora, Inc. (NYSE:COR)

Wahed Invest LLC purchased a new position in Cencora, Inc. (NYSE:COR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,759 shares of the company’s stock, valued at approximately $567,000.

Separately, Trust Co. of Vermont acquired a new stake in Cencora in the 4th quarter worth approximately $62,000. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Dermot Mark Durcan acquired 500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were acquired 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 directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COR shares. Citigroup upped their price target 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. Robert W. Baird boosted their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink started coverage on Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.90.

Cencora Trading Up 0.9 %

Shares of Cencora stock opened at $234.70 on Tuesday. The firm has a 50-day simple moving average of $229.49 and a two-hundred day simple moving average of $226.12. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The company has a market cap of $46.81 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.48.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 EPS. As a group, equities analysts predict that Cencora, Inc. will post 13.44 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s dividend payout ratio 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.