Ameriflex Group Inc. Makes New Investment in Cencora, Inc. (NYSE:COR)

Ameriflex Group Inc. acquired a new stake in Cencora, Inc. (NYSE:COR) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 218 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds have also recently modified their holdings of the company. Hickory Asset Management Inc. bought a new stake in Cencora in the fourth quarter worth about $572,000. Sylvest Advisors LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $1,105,000. Vontobel Holding Ltd. lifted its stake in Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock valued at $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Milestone Asset Management LLC grew its holdings in Cencora by 430.2% during the fourth quarter. Milestone Asset Management LLC now owns 5,461 shares of the company’s stock valued at $1,227,000 after purchasing an additional 4,431 shares during the period. Finally, Portfolio Design Labs LLC grew its holdings in Cencora by 76.9% during the fourth quarter. Portfolio Design Labs LLC now owns 11,032 shares of the company’s stock valued at $2,479,000 after purchasing an additional 4,794 shares during the period. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their price target on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. Finally, UBS Group lifted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.18.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,223 shares of company stock valued at $12,369,767 in the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Trading Down 1.4%

Shares of COR stock opened at $289.33 on Thursday. The company has a market capitalization of $56.08 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $309.35. The business’s fifty day moving average is $283.90 and its 200 day moving average is $257.97. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The firm had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. During the same quarter last year, the firm posted $3.80 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. Cencora’s dividend payout ratio is presently 25.52%.

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.