Intech Investment Management LLC Buys 534 Shares of Cencora, Inc. (NYSE:COR)

Intech Investment Management LLC boosted its position in Cencora, Inc. (NYSE:COR) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,921 shares of the company’s stock after purchasing an additional 534 shares during the period. Intech Investment Management LLC’s holdings in Cencora were worth $14,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC bought a new stake in Cencora during the first quarter valued at about $25,000. New Millennium Group LLC bought a new stake in shares of Cencora in the 2nd quarter worth about $26,000. Legacy Bridge LLC bought a new position in shares of Cencora during the first quarter valued at approximately $27,000. TCTC Holdings LLC bought a new position in Cencora in the 1st quarter valued at $29,000. Finally, TFO Wealth Partners LLC bought a new stake in Cencora during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased 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. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Bank of America reaffirmed a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Finally, Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $256.67.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction 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 transaction, the executive vice president now 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 link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 0.8 %

COR stock opened at $226.56 on Friday. Cencora, Inc. has a 12 month low of $178.21 and a 12 month 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. The firm has a 50-day moving average of $234.73 and a two-hundred day moving average of $233.18. The company has a market cap of $45.19 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) 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 the consensus estimate of $73.32 billion. During the same quarter in the previous year, the business earned $2.92 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is presently 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.