Cambridge Investment Research Advisors Inc. Buys 22,013 Shares of Cencora, Inc. (NYSE:COR)

Cambridge Investment Research Advisors Inc. raised its stake in Cencora, Inc. (NYSE:COR) by 65.4% in the second quarter, Holdings Channel reports. The fund owned 55,648 shares of the company’s stock after purchasing an additional 22,013 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Cencora were worth $12,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter valued at approximately $655,000. TD Asset Management Inc acquired a new position in shares of Cencora in the first quarter valued at approximately $95,313,000. LSV Asset Management acquired a new position in shares of Cencora in the first quarter valued at approximately $3,579,000. Cairn Investment Group Inc. acquired a new position in shares of Cencora in the first quarter valued at approximately $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $836,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gina Clark sold 27,093 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total value of $5,853,984.51. Following the transaction, the executive vice president now directly owns 15,158 shares in the company, valued at approximately $3,275,189.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Gina Clark sold 27,093 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total value of $5,853,984.51. Following the completion of the sale, the executive vice president now owns 15,158 shares in the company, valued at approximately $3,275,189.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,479,366 shares of company stock worth $1,076,666,297 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Leerink Partners reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird increased their target price on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.63.

Cencora Trading Down 0.4 %

Shares of COR stock traded down $0.94 during trading hours on Tuesday, hitting $233.50. 1,290,234 shares of the company were exchanged, compared to its average volume of 1,368,015. The firm has a market cap of $46.57 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.68 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The company has a 50 day simple moving average of $231.84 and a two-hundred day simple moving average of $232.79.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during 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%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.92 EPS. Equities analysts anticipate that Cencora, Inc. will post 13.56 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors 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 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

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.