Iowa State Bank Invests $1.39 Million in Cencora, Inc. (NYSE:COR)

Iowa State Bank purchased a new stake in Cencora, Inc. (NYSE:COR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,177 shares of the company’s stock, valued at approximately $1,390,000.

Other large investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new position in Cencora during the second quarter worth $655,000. TD Asset Management Inc bought a new stake in shares of Cencora during the 1st quarter valued at about $95,313,000. LSV Asset Management bought a new stake in shares of Cencora during the 1st quarter valued at about $3,579,000. Cairn Investment Group Inc. bought a new position in Cencora in the first quarter worth about $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in Cencora in the first quarter valued at approximately $836,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last 90 days. 15.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America restated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Evercore ISI cut their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $259.44.

Cencora Trading Up 0.2 %

COR stock opened at $222.56 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm has a market cap of $44.39 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a 1-year low of $182.75 and a 1-year high of $247.66. The business’s 50 day moving average is $232.97 and its 200-day moving average is $231.48.

Cencora (NYSE:COR) last released 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 during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the company posted $2.92 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.92%. Cencora’s dividend payout ratio (DPR) 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.