Cencora, Inc. (NYSE:COR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Cencora, Inc. (NYSE:COR) by 35.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,762 shares of the company’s stock after purchasing an additional 723 shares during the quarter. GAMMA Investing LLC’s holdings in Cencora were worth $622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Transcend Capital Advisors LLC grew its stake in Cencora by 12.2% in the second quarter. Transcend Capital Advisors LLC now owns 15,855 shares of the company’s stock worth $3,572,000 after purchasing an additional 1,726 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in Cencora in the first quarter worth $1,137,000. HM Payson & Co. bought a new stake in Cencora during the first quarter valued at $708,000. Jackson Wealth Management LLC acquired a new stake in Cencora during the first quarter worth about $6,740,000. Finally, American Trust acquired a new position in Cencora in the first quarter valued at approximately $396,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 1.3 %

Shares of Cencora stock traded up $3.11 during midday trading on Friday, hitting $247.57. The company’s stock had a trading volume of 3,292,432 shares, compared to its average volume of 1,217,035. The stock has a 50-day simple moving average of $228.85 and a 200-day simple moving average of $231.36. The firm has a market capitalization of $49.38 billion, a P/E ratio of 27.09, a PEG ratio of 1.68 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $247.66.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 EPS. As a group, sell-side analysts expect that Cencora, Inc. will post 13.56 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.82%. Cencora’s payout ratio is 22.32%.

Insider Activity at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction 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 completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,899,112 shares of company stock valued at $408,654,376. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COR. Robert W. Baird boosted their price objective on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup raised their target price 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. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, SVB Leerink reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.63.

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.