Virtu Financial LLC Makes New $1.09 Million Investment in Cencora, Inc. (NYSE:COR)

Virtu Financial LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,820 shares of the company’s stock, valued at approximately $1,086,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Cencora in the fourth quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora in the 1st quarter worth approximately $1,199,695,000. Boston Partners purchased a new position in Cencora in the first quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors bought a new position in Cencora during the first quarter valued at $650,424,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COR has been the topic of several research reports. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday. Robert W. Baird dropped their price objective 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. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $256.67.

Cencora Trading Down 2.6 %

Shares of COR stock opened at $228.48 on Thursday. Cencora, Inc. has a 52-week low of $178.21 and a 52-week high of $247.66. The business’s fifty day moving average is $234.64 and its 200 day moving average is $233.23. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a market capitalization of $45.57 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter last year, the firm posted $2.92 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 22.32%.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by corporate insiders.

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.