9,409 Shares in Cencora, Inc. (NYSE:COR) Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Cencora, Inc. (NYSE:COR) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,409 shares of the company’s stock, valued at approximately $2,286,000.

Several other large investors have also recently added to or reduced their stakes in COR. Rise Advisors LLC acquired a new stake in Cencora in the 1st quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora during the 1st quarter valued at $27,000. WASHINGTON TRUST Co acquired a new position in shares of Cencora during the 1st quarter valued at $32,000. Hanson & Doremus Investment Management acquired a new position in shares of Cencora during the 1st quarter valued at $33,000. Finally, OFI Invest Asset Management acquired a new position in shares of Cencora during the 1st quarter valued at $33,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COR has been the topic of several research analyst reports. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink reissued an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird raised their price objective on Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.10.

Insider Activity at Cencora

In related news, COO Robert P. Mauch sold 57,564 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Robert P. Mauch sold 57,564 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold 1,956,675 shares of company stock worth $422,352,056 over the last three months. Company insiders own 15.80% of the company’s stock.

Cencora Stock Up 0.3 %

COR traded up $0.60 during trading on Friday, reaching $222.60. 791,079 shares of the stock traded hands, compared to its average volume of 1,453,087. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. The stock’s 50-day simple moving average is $226.65 and its two-hundred day simple moving average is $229.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $3.50 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Cencora, Inc. will post 13.46 EPS for the current year.

Cencora Dividend Announcement

The company 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 was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora’s dividend payout ratio is 22.32%.

About Cencora

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.