Northwest Investment Counselors LLC Purchases Shares of 310 Cencora, Inc. (NYSE:COR)

Northwest Investment Counselors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 310 shares of the company’s stock, valued at approximately $70,000.

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

Cencora Price Performance

Shares of NYSE:COR opened at $236.54 on Tuesday. The company has a market capitalization of $47.18 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company’s 50-day moving average is $232.36 and its 200 day moving average is $230.92. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last released its 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. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. Cencora’s payout ratio is 22.32%.

Insider Activity at Cencora

In related 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 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’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 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 approximately $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COR shares. Evercore ISI lowered their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Finally, Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.44.

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.