EP Wealth Advisors LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

EP Wealth Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) 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 (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The firm 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 company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.50 earnings per share. On average, research analysts expect that Cencora, Inc. will post 13.46 EPS for the current fiscal year.

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.