Raymond James & Associates Acquires Shares of 271,690 Cencora, Inc. (NYSE:COR)

Raymond James & Associates bought a new position in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 271,690 shares of the company’s stock, valued at approximately $66,018,000.

Other large investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in Cencora during the 1st quarter worth approximately $25,000. CVA Family Office LLC purchased a new stake in shares of Cencora during the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new position in shares of Cencora during the first quarter worth $43,000. Park Place Capital Corp purchased a new position in shares of Cencora in the first quarter valued at $46,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in Cencora during the 1st quarter valued at $64,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of Cencora stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the sale, the insider now directly owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the completion of the transaction, the insider now directly owns 26,277,561 shares of the company’s stock, valued at approximately $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379 over the last three months. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COR. Robert W. Baird raised their target price on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho raised their price objective on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. SVB Leerink began coverage on Cencora in a research report on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Finally, Citigroup lifted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.90.

Cencora Stock Performance

Cencora stock traded down $0.79 during mid-day trading on Friday, reaching $223.95. The company’s stock had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a twelve month low of $163.37 and a twelve month high of $246.75. The business has a 50 day moving average price of $238.31 and a 200-day moving average price of $219.15. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.69 and a beta of 0.47.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 13.46 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s payout ratio is currently 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.