Ironwood Investment Counsel LLC Buys New Position in Cencora, Inc. (NYSE:COR)

Ironwood Investment Counsel LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,590 shares of the company’s stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Cencora during the first quarter valued at approximately $25,000. Legacy Bridge LLC bought a new stake in Cencora during the first quarter valued at $27,000. TCTC Holdings LLC purchased a new stake in Cencora during the first quarter valued at about $29,000. WASHINGTON TRUST Co purchased a new stake in Cencora during the first quarter valued at about $32,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Cencora in the first quarter worth about $33,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 0.5 %

Cencora stock traded up $1.12 during trading hours on Monday, hitting $224.72. 935,081 shares of the stock traded hands, compared to its average volume of 1,374,422. The firm’s 50-day moving average price is $226.58 and its two-hundred day moving average price is $230.23. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The company has a market cap of $44.82 billion, a PE ratio of 24.57, a PEG ratio of 1.55 and a beta of 0.45. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75.

Cencora (NYSE:COR) last posted its quarterly earnings data 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 business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.50 EPS. On average, research analysts forecast that Cencora, Inc. will post 13.46 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird raised their target price on Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

Insider Transactions at Cencora

In related news, Director Dermot Mark Durcan bought 500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the purchase, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, Director Dermot Mark Durcan acquired 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was purchased at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was 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 $63,323,746.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,899,112 shares of company stock valued at $408,654,376 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

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.