Enterprise Bank & Trust Co Purchases 321 Shares of Cencora, Inc. $COR

Enterprise Bank & Trust Co grew its position in Cencora, Inc. (NYSE:COR) by 23.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,706 shares of the company’s stock after purchasing an additional 321 shares during the period. Enterprise Bank & Trust Co’s holdings in Cencora were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COR. GAMMA Investing LLC lifted its holdings in shares of Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock valued at $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after purchasing an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after purchasing an additional 787,858 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Cencora in the first quarter valued at about $181,284,000. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Cencora Stock Performance

COR opened at $302.83 on Friday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The firm has a market capitalization of $58.71 billion, a PE ratio of 31.16, a PEG ratio of 1.44 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The business’s 50-day simple moving average is $293.24 and its 200 day simple moving average is $285.74.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.34 earnings per share. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is currently 22.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COR shares. Morgan Stanley set a $330.00 price target on Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Wells Fargo & Company upped their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.25.

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.