Bank of Montreal Can Acquires 370,841 Shares of Cencora, Inc. (NYSE:COR)

Bank of Montreal Can lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 136.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,887 shares of the company’s stock after purchasing an additional 370,841 shares during the period. Bank of Montreal Can owned 0.32% of Cencora worth $153,623,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Cencora during the 1st quarter worth approximately $25,000. Legacy Bridge LLC bought a new position in Cencora during the first quarter worth $27,000. New Millennium Group LLC acquired a new stake in Cencora in the second quarter worth $26,000. TCTC Holdings LLC bought a new stake in Cencora in the first quarter valued at $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora during the first quarter valued at about $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on COR. Robert W. Baird reduced their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

Cencora Price Performance

Shares of NYSE:COR opened at $228.36 on Tuesday. 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 has a market cap of $45.55 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The stock’s fifty day simple moving average is $234.97 and its two-hundred day simple moving average is $233.04. Cencora, Inc. has a 1-year low of $178.21 and a 1-year high of $247.66.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the prior year, the company posted $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, 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. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is presently 22.32%.

Insider Activity at Cencora

In other Cencora 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 value of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’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 completion of the sale, the insider now 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 at the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of 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. Over the last three months, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by insiders.

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.