MV Capital Management Inc. Makes New $82,000 Investment in Cencora, Inc. (NYSE:COR)

MV Capital Management Inc. acquired a new stake in Cencora, Inc. (NYSE:COR) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 336 shares of the company’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Cencora during the first quarter worth $25,000. CVA Family Office LLC bought a new position in Cencora during the 1st quarter valued at $34,000. Bruce G. Allen Investments LLC bought a new position in shares of Cencora during the first quarter worth about $43,000. Park Place Capital Corp acquired a new position in shares of Cencora in the 1st quarter worth approximately $46,000. Finally, Trust Co. of Vermont acquired a new position in Cencora in the fourth quarter worth $62,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COR has been the subject of a number of analyst reports. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report 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, June 27th. Citigroup increased 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. Finally, Robert W. Baird increased their price target on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $235.30.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Dermot Mark Durcan acquired 500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the acquisition, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 stock was 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 approximately $5,252,836,945.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is owned by company insiders.

Cencora Price Performance

Shares of NYSE:COR opened at $222.56 on Wednesday. Cencora, Inc. has a 1 year low of $171.65 and a 1 year high of $246.75. The business has a fifty day simple moving average of $228.55 and a 200 day simple moving average of $228.47. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The firm has a market cap of $44.39 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.57 and a beta of 0.45.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping 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 firm had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 13.44 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders 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 dividend yield of 0.92%. Cencora’s payout ratio is presently 22.32%.

Cencora Company 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.