Parallel Advisors LLC Has $1.12 Million Position in Cencora, Inc. (NYSE:COR)

Parallel Advisors LLC grew its position in Cencora, Inc. (NYSE:COR) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,961 shares of the company’s stock after buying an additional 299 shares during the quarter. Parallel Advisors LLC’s holdings in Cencora were worth $1,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. Rise Advisors LLC acquired a new position in shares of Cencora in the 1st quarter valued at approximately $25,000. New Millennium Group LLC acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $26,000. Legacy Bridge LLC acquired a new position in shares of Cencora in the 1st quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora in the 1st quarter valued at approximately $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Up 0.9 %

NYSE:COR opened at $239.88 on Monday. The firm’s fifty day moving average is $233.92 and its 200-day moving average is $233.24. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a 52 week low of $175.50 and a 52 week high of $247.66. The firm has a market cap of $47.84 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the firm posted $2.92 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. Cencora’s payout ratio is presently 22.32%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 in the last quarter. Company insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COR. Robert W. Baird lowered their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.13.

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.