Envestnet Asset Management Inc. Purchases 22,735 Shares of Cencora, Inc. (NYSE:COR)

Envestnet Asset Management Inc. boosted its position in Cencora, Inc. (NYSE:COR) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 560,450 shares of the company’s stock after acquiring an additional 22,735 shares during the period. Envestnet Asset Management Inc.’s holdings in Cencora were worth $126,269,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COR. Fisher Asset Management LLC purchased a new position in Cencora during the 4th quarter valued at about $244,000. Trust Co. of Vermont bought a new position in shares of Cencora during the fourth quarter valued at approximately $62,000. Wahed Invest LLC purchased a new stake in Cencora in the fourth quarter worth $567,000. Vanguard Group Inc. bought a new stake in Cencora in the fourth quarter valued at $4,212,508,000. Finally, Hennessy Advisors Inc. purchased a new position in Cencora during the 4th quarter valued at $3,307,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

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

Cencora Trading Up 0.6 %

NYSE COR opened at $241.24 on Tuesday. Cencora, Inc. has a 12 month low of $177.00 and a 12 month 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 stock’s fifty day moving average price is $234.28 and its 200-day moving average price is $233.28. The stock has a market cap of $48.12 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. As a group, equities analysts forecast that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid 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 0.85%. Cencora’s dividend payout ratio is 22.32%.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on 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 sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred 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. In the last quarter, 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.

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.