Hennion & Walsh Asset Management Inc. Purchases New Shares in Cencora, Inc. (NYSE:COR)

Hennion & Walsh Asset Management Inc. acquired a new position in Cencora, Inc. (NYSE:COR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,661 shares of the company’s stock, valued at approximately $1,862,000.

Other hedge funds have also modified their holdings of the company. Cairn Investment Group Inc. purchased a new stake in shares of Cencora in the first quarter valued at approximately $2,294,000. NBC Securities Inc. acquired a new stake in Cencora in the 1st quarter valued at $976,000. Park Avenue Securities LLC purchased a new stake in Cencora in the 1st quarter worth $2,114,000. Vanguard Group Inc. purchased a new stake in Cencora in the 4th quarter worth $4,212,508,000. Finally, Cullen Investment Group LTD. acquired a new stake in shares of Cencora in the first quarter valued at about $924,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other news, EVP Gina Clark sold 1,874 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the transaction, the executive vice president now directly owns 13,284 shares in the company, valued at approximately $2,973,756.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the transaction, the executive vice president now owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The disclosure for this sale can be found here. Insiders have sold 1,956,675 shares of company stock worth $422,352,056 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Cencora Trading Down 1.2 %

Shares of COR stock opened at $225.30 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The company’s 50-day moving average price is $229.12 and its 200-day moving average price is $227.99. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.57 and a beta of 0.48.

Cencora (NYSE:COR) last posted its earnings results 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. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business posted $3.50 EPS. Cencora’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Dividend Announcement

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 dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Wall Street Analyst Weigh In

COR has been the topic of several research analyst reports. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price target on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. SVB Leerink reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday. Finally, Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.30.

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.