Wedmont Private Capital Makes New Investment in Cencora, Inc. (NYSE:COR)

Wedmont Private Capital acquired a new position in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,663 shares of the company’s stock, valued at approximately $397,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Cencora in the 1st quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Cencora in the 1st quarter worth $43,000. Trust Co. of Vermont bought a new stake in shares of Cencora in the 4th quarter worth about $62,000. Tompkins Financial Corp bought a new stake in shares of Cencora in the 1st quarter worth about $122,000. Finally, Versant Capital Management Inc bought a new stake in shares of Cencora in the 1st quarter worth about $168,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The disclosure for this purchase can be found here. In the last three months, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Company insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. SVB Leerink assumed coverage on shares of Cencora in a research report on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price for the company. Citigroup boosted their target price on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.90.

Cencora Trading Up 0.4 %

Cencora stock opened at $236.68 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. The firm has a 50-day moving average price of $229.50 and a two-hundred day moving average price of $226.72. The firm has a market capitalization of $47.21 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.65 and a beta of 0.48. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $246.75.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.50 EPS. Sell-side analysts expect that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid 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 of this dividend was Thursday, May 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.