Rafferty Asset Management LLC Purchases 2,201 Shares of Cencora, Inc. (NYSE:COR)

Rafferty Asset Management LLC increased its position in Cencora, Inc. (NYSE:COR) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,894 shares of the company’s stock after acquiring an additional 2,201 shares during the quarter. Rafferty Asset Management LLC’s holdings in Cencora were worth $4,470,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after acquiring an additional 78,066 shares during the period. Bank of America Corp DE boosted its position in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Boston Partners boosted its position in shares of Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after acquiring an additional 125,611 shares during the period. Geode Capital Management LLC boosted its position in shares of Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock valued at $969,471,000 after acquiring an additional 130,213 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock valued at $728,757,000 after acquiring an additional 550,246 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 1.5%

COR stock opened at $290.24 on Monday. The company has a market capitalization of $56.28 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a one year low of $214.77 and a one year high of $309.35. The company’s 50 day moving average price is $279.10 and its two-hundred day moving average price is $255.35. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.80 earnings per share. As a group, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,970 shares of Cencora 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 transaction, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at $13,022,850. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,223 shares of company stock valued at $13,580,967 over the last three months. 10.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on COR shares. Citigroup lifted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. UBS Group lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $301.18.

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.