Eastern Bank Makes New $130,000 Investment in Cencora, Inc. (NYSE:COR)

Eastern Bank purchased a new stake in Cencora, Inc. (NYSE:COR) in the third quarter, Holdings Channel reports. The firm purchased 578 shares of the company’s stock, valued at approximately $130,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC bought a new stake in Cencora during the second quarter valued at $26,000. TCTC Holdings LLC bought a new stake in shares of Cencora during the 1st quarter valued at about $29,000. TFO Wealth Partners LLC acquired a new stake in Cencora during the first quarter worth about $30,000. MFA Wealth Advisors LLC bought a new position in Cencora in the second quarter worth about $30,000. Finally, LRI Investments LLC acquired a new position in Cencora in the first quarter valued at approximately $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,461,153 shares of company stock valued at $1,073,075,720. 15.80% of the stock is currently owned by corporate insiders.

Cencora Stock Up 0.3 %

COR stock opened at $235.17 on Friday. The firm has a market cap of $46.91 billion, a PE ratio of 25.73, a P/E/G ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a 12 month low of $182.75 and a 12 month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $232.22 and a 200 day simple moving average of $230.91.

Cencora (NYSE:COR) last announced 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. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 EPS. Equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.87%. Cencora’s payout ratio is presently 22.32%.

Analysts Set New Price Targets

COR has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI reduced their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $259.44.

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.