Cencora, Inc. (NYSE:COR) Holdings Lifted by Scientech Research LLC

Scientech Research LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,244 shares of the company’s stock after buying an additional 230 shares during the period. Scientech Research LLC’s holdings in Cencora were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on COR. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Leerink Partners reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Robert W. Baird cut their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $256.67.

Insiders Place Their Bets

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

Cencora Stock Performance

Shares of NYSE COR opened at $225.06 on Tuesday. The stock’s fifty day simple moving average is $234.96 and its 200 day simple moving average is $232.69. The stock has a market capitalization of $44.89 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.58 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52-week low of $178.21 and a 52-week high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (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 firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the previous year, the company earned $2.92 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

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.