Vaughan Nelson Investment Management L.P. Invests $11.23 Million in Cencora, Inc. (NYSE:COR)

Vaughan Nelson Investment Management L.P. purchased a new position in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 46,193 shares of the company’s stock, valued at approximately $11,225,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in Cencora in the 4th quarter worth about $4,212,508,000. Wealth Enhancement Advisory Services LLC purchased a new position in Cencora in the 1st quarter worth about $66,911,000. PNC Financial Services Group Inc. purchased a new position in Cencora in the 4th quarter worth about $51,339,000. Los Angeles Capital Management LLC purchased a new position in Cencora in the 1st quarter worth about $45,692,000. Finally, Pensioenfonds Rail & OV purchased a new position in Cencora in the 1st quarter worth about $37,371,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gina Clark sold 1,874 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the sale, the executive vice president now owns 13,284 shares in the company, valued at approximately $2,973,756.24. 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 currently owned by insiders.

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent analyst reports. Robert W. Baird boosted 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. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Citigroup upped their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.30.

Cencora Trading Down 0.4 %

Shares of NYSE:COR opened at $222.56 on Wednesday. The stock has a 50 day moving average of $228.55 and a 200 day moving average of $228.47. The company has a market cap of $44.39 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.45. 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 12-month low of $171.65 and a 12-month 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 for the quarter, topping the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the prior year, the company posted $3.50 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. Cencora’s dividend payout ratio is currently 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.