BIP Wealth LLC Takes $203,000 Position in Cencora, Inc. (NYSE:COR)

BIP Wealth LLC acquired a new position in Cencora, Inc. (NYSE:COR) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 731 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COR. Exchange Traded Concepts LLC lifted its holdings in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock worth $307,000 after acquiring an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company’s stock worth $427,000 after purchasing an additional 93 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cencora by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock worth $1,598,000 after purchasing an additional 2,087 shares in the last quarter. Westpac Banking Corp raised its holdings in shares of Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company’s stock valued at $4,919,000 after buying an additional 2,596 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was 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 in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer owned 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,127 shares of company stock worth $9,812,296. Insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of COR stock opened at $294.64 on Wednesday. The firm has a market capitalization of $57.11 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 1.47 and a beta of 0.57. The stock has a fifty day moving average of $292.09 and a 200 day moving average of $270.94. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. 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 (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.80 EPS. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio is currently 25.52%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Citigroup raised their price objective on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.33.

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.