Ballentine Partners LLC Acquires Shares of 8,578 Cencora, Inc. (NYSE:COR)

Ballentine Partners LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,578 shares of the company’s stock, valued at approximately $2,084,000.

A number of other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Cencora during the 1st quarter worth $25,000. CVA Family Office LLC purchased a new position in Cencora in the first quarter valued at about $34,000. Bruce G. Allen Investments LLC bought a new position in shares of Cencora during the 1st quarter valued at approximately $43,000. Trust Co. of Vermont purchased a new stake in shares of Cencora during the 4th quarter worth approximately $62,000. Finally, Tompkins Financial Corp bought a new stake in shares of Cencora in the 1st quarter worth approximately $122,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gina Clark sold 27,093 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,158 shares of the company’s stock, valued at $3,275,189.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on COR shares. Citigroup raised their target price on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird upped their target price on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink started coverage on shares of Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price on the stock. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $233.90.

Cencora Trading Up 0.9 %

COR stock traded up $2.09 on Monday, reaching $238.77. The company’s stock had a trading volume of 26,042 shares, compared to its average volume of 1,360,709. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The business has a fifty day simple moving average of $229.50 and a two-hundred day simple moving average of $227.07. The firm has a market cap of $47.62 billion, a PE ratio of 25.89, a PEG ratio of 1.64 and a beta of 0.48. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $246.75.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business posted $3.50 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors 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 annualized dividend and a yield of 0.85%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

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.