Sumitomo Life Insurance Co. Purchases 136 Shares of Cencora, Inc. (NYSE:COR)

Sumitomo Life Insurance Co. raised its position in shares of Cencora, Inc. (NYSE:COR) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,049 shares of the company’s stock after buying an additional 136 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cencora were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in Cencora during the 1st quarter valued at $2,183,619,000. JPMorgan Chase & Co. acquired a new stake in shares of Cencora in the first quarter valued at $1,199,695,000. Boston Partners acquired a new stake in shares of Cencora in the first quarter valued at $1,001,269,000. Capital Research Global Investors bought a new position in shares of Cencora in the first quarter valued at about $650,424,000. Finally, Bessemer Group Inc. bought a new stake in Cencora during the 1st quarter worth about $556,245,000. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 1.5 %

NYSE COR opened at $236.60 on Thursday. 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, Inc. has a 12 month low of $182.75 and a 12 month high of $247.66. The company has a market capitalization of $47.19 billion, a PE ratio of 25.89, a P/E/G ratio of 1.40 and a beta of 0.44. The stock has a 50-day simple moving average of $232.42 and a 200 day simple moving average of $231.15.

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

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COR. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird lowered their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Evercore ISI cut their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated 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 approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’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 sale, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now 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 position. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company 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.