Ironwood Financial llc Makes New Investment in Cencora, Inc. (NYSE:COR)

Ironwood Financial llc acquired a new position in Cencora, Inc. (NYSE:COR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,131 shares of the company’s stock, valued at approximately $2,948,000.

Other large investors have also modified their holdings of the company. Cairn Investment Group Inc. purchased a new stake in shares of Cencora during the first quarter worth about $2,294,000. NBC Securities Inc. purchased a new stake in shares of Cencora during the first quarter worth about $976,000. Park Avenue Securities LLC purchased a new stake in shares of Cencora during the first quarter worth about $2,114,000. Vanguard Group Inc. purchased a new stake in shares of Cencora during the fourth quarter worth about $4,212,508,000. Finally, Cullen Investment Group LTD. purchased a new stake in shares of Cencora during the first quarter worth about $924,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Director Dermot Mark Durcan purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cencora news, Director Dermot Mark Durcan acquired 500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold 1,956,675 shares of company stock worth $422,352,056 in the last ninety days. 15.80% of the stock is owned by corporate insiders.

Cencora Stock Down 1.2 %

COR stock traded down $2.66 during midday trading on Friday, hitting $225.30. The company’s stock had a trading volume of 2,859,201 shares, compared to its average volume of 1,758,029. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $246.75. The firm has a market capitalization of $44.94 billion, a P/E ratio of 24.65, a PEG ratio of 1.57 and a beta of 0.48. The firm has a 50-day simple moving average of $229.12 and a 200-day simple moving average of $228.16.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.50 EPS. As a group, equities analysts forecast that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.91%. Cencora’s dividend payout ratio is currently 22.32%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COR shares. Robert W. Baird upped their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup upped their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday. Finally, StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.30.

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.