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

Claro Advisors LLC purchased a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,144 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors also recently made changes to their positions in COR. Cairn Investment Group Inc. purchased a new stake in Cencora during the first quarter valued at about $2,294,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Cencora during the 1st quarter worth about $1,862,000. NBC Securities Inc. acquired a new stake in Cencora during the 1st quarter worth approximately $976,000. Park Avenue Securities LLC purchased a new position in Cencora in the first quarter valued at approximately $2,114,000. Finally, Alaska Permanent Fund Corp acquired a new position in Cencora during the first quarter valued at approximately $1,819,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Down 0.8 %

Shares of COR opened at $223.58 on Tuesday. The company has a market capitalization of $44.59 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.57 and a beta of 0.45. 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 stock has a 50-day moving average price of $228.85 and a 200 day moving average price of $228.32. 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 results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.67% and a return on equity of 268.67%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 13.44 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors 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 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Activity at Cencora

In other news, Director Dermot Mark Durcan bought 500 shares of Cencora stock in a transaction on Friday, May 24th. The shares were bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan acquired 500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the transaction, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold a total of 1,956,675 shares of company stock valued at $422,352,056 over the last three months. 15.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COR shares. Citigroup raised their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird upped their target price on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $235.30.

About Cencora

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.