Marshall Wace LLP Takes $1.54 Million Position in Cencora, Inc. (NYSE:COR)

Marshall Wace LLP bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,829 shares of the company’s stock, valued at approximately $1,539,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Cencora in the 1st quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Cencora during the second quarter valued at approximately $26,000. TCTC Holdings LLC bought a new position in Cencora in the first quarter valued at approximately $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora during the 1st quarter worth approximately $30,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Cencora during the 2nd quarter worth approximately $30,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $219.94 on Friday. The stock has a 50 day simple moving average of $234.60 and a 200 day simple moving average of $232.14. The stock has a market cap of $43.87 billion, a P/E ratio of 24.06, a PEG ratio of 1.58 and a beta of 0.44. Cencora, Inc. has a 1-year low of $182.62 and a 1-year high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter last year, the firm earned $2.92 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COR shares. Robert W. Baird lowered their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Bank of America reiterated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

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.