EP Wealth Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,677 shares of the company’s stock, valued at approximately $650,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in Cencora in the 4th quarter valued at $4,212,508,000. JPMorgan Chase & Co. bought a new position in shares of Cencora during the first quarter valued at $1,199,695,000. Bessemer Group Inc. bought a new position in shares of Cencora during the first quarter valued at $556,245,000. Bank of New York Mellon Corp bought a new stake in shares of Cencora in the 1st quarter worth about $291,825,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Cencora in the 1st quarter worth about $238,457,000. 97.52% of the stock is owned by institutional investors.
Cencora Trading Up 0.2 %
Shares of Cencora stock traded up $0.51 on Friday, hitting $227.62. 1,310,263 shares of the company’s stock traded hands, compared to its average volume of 1,362,723. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. The stock has a market capitalization of $45.40 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.57 and a beta of 0.45. The firm’s 50-day moving average price is $226.85 and its two-hundred day moving average price is $230.36.
Cencora Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid 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 yield of 0.90%. Cencora’s payout ratio is 22.32%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on COR. SVB Leerink restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird boosted their price objective on Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Finally, Citigroup raised their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.78.
Insiders Place Their Bets
In related news, Director Dermot Mark Durcan purchased 500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Gina Clark sold 27,093 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the transaction, the executive vice president now owns 15,158 shares in the company, valued at $3,275,189.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dermot Mark Durcan purchased 500 shares of the stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the purchase, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold 1,899,112 shares of company stock worth $408,654,376 over the last ninety days. 15.80% of the stock is currently owned by corporate insiders.
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.
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