Silvercrest Asset Management Group LLC Acquires Shares of 32,824 Cencora, Inc. (NYSE:COR)

Silvercrest Asset Management Group LLC acquired a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,824 shares of the company’s stock, valued at approximately $7,976,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in Cencora in the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the 1st quarter valued at $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora in the 1st quarter valued at $1,199,695,000. Capital Research Global Investors purchased a new position in shares of Cencora during the 1st quarter worth $650,424,000. Finally, Bessemer Group Inc. purchased a new position in shares of Cencora during the 1st quarter worth $556,245,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The disclosure for this sale can be found here. Insiders sold a total of 1,899,112 shares of company stock valued at $408,654,376 in the last three months. 15.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COR has been the topic of several analyst reports. SVB Leerink reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price target on Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Citigroup lifted their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $238.78.

Cencora Stock Up 1.7 %

Shares of COR opened at $231.03 on Wednesday. The firm has a market cap of $46.08 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 1.58 and a beta of 0.45. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $246.75. The company’s 50-day moving average price is $227.36 and its 200 day moving average price is $230.84. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last released 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. The company had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 EPS. On average, sell-side analysts forecast that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

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.