OFI Invest Asset Management Invests $112,000 in Cencora, Inc. $COR

OFI Invest Asset Management purchased a new position in Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel.com reports. The fund purchased 373 shares of the company’s stock, valued at approximately $112,000.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its position in Cencora by 25.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,506 shares of the company’s stock worth $10,047,000 after purchasing an additional 6,790 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Cencora by 8.9% during the second quarter. Concurrent Investment Advisors LLC now owns 9,421 shares of the company’s stock valued at $2,825,000 after buying an additional 767 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Cencora by 10.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 6,556 shares of the company’s stock worth $1,966,000 after buying an additional 607 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in Cencora by 24.8% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 2,477 shares of the company’s stock worth $743,000 after buying an additional 493 shares in the last quarter. Finally, Aberdeen Group plc increased its position in Cencora by 14.3% in the 2nd quarter. Aberdeen Group plc now owns 150,488 shares of the company’s stock valued at $45,124,000 after acquiring an additional 18,800 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction 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 represents a 11.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock worth $16,292,923 in the last ninety days. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on COR. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company increased their target price 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. Evercore ISI set a $340.00 target price on shares of Cencora in a research note on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.00.

Cencora Stock Up 1.2%

Cencora stock opened at $318.01 on Monday. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.49 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The company’s 50-day moving average price is $296.99 and its two-hundred day moving average price is $291.87. Cencora, Inc. has a 52 week low of $221.95 and a 52 week high of $319.68.

Cencora (NYSE:COR) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $3.34 EPS. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

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.