Fairscale Capital LLC Invests $54,000 in Cencora, Inc. (NYSE:COR)

Fairscale Capital LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 240 shares of the company’s stock, valued at approximately $54,000.

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

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird decreased their price target 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. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $256.67.

Cencora Stock Performance

Shares of Cencora stock opened at $228.11 on Monday. The business has a 50-day moving average price of $234.84 and a two-hundred day moving average price of $233.10. Cencora, Inc. has a 1-year low of $178.21 and a 1-year high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a market cap of $45.50 billion, a P/E ratio of 24.96, a PEG ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 22.32%.

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.