Mirae Asset Global Investments Co. Ltd. Purchases 800 Shares of Cencora, Inc. $COR

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cencora, Inc. (NYSE:COR) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 42,727 shares of the company’s stock after buying an additional 800 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cencora were worth $12,812,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC boosted its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Cencora during the 1st quarter worth about $28,000. Costello Asset Management INC bought a new position in shares of Cencora during the 1st quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cencora during the 1st quarter worth about $39,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $302.54 on Friday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $315.23. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.41 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The firm’s 50-day simple moving average is $294.68 and its 200 day simple moving average is $290.25.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $3.34 EPS. As a group, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,993 shares of company stock valued at $16,292,923. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COR. Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.25.

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.