Genus Capital Management Inc. Invests $214,000 in Cencora, Inc. (NYSE:COR)

Genus Capital Management Inc. acquired a new position in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 770 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares in the last quarter. Hoey Investments Inc. purchased a new stake in Cencora in the 1st quarter worth $28,000. Banque Transatlantique SA purchased a new stake in Cencora in the 4th quarter worth $29,000. Vermillion Wealth Management Inc. purchased a new stake in Cencora in the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC increased its stake in Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Down 0.8%

Shares of Cencora stock opened at $295.07 on Friday. The firm has a market cap of $57.19 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.47 and a beta of 0.57. The business has a 50-day moving average price of $291.91 and a 200-day moving average price of $269.69. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter last year, the firm earned $3.80 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

Analyst Ratings Changes

COR has been the subject of a number of analyst reports. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Robert W. Baird raised their price objective on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.33.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer owned 47,582 shares of the company’s stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is owned by insiders.

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.