Cencora, Inc. $COR Shares Purchased by Iowa State Bank

Iowa State Bank increased its position in shares of Cencora, Inc. (NYSE:COR) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,758 shares of the company’s stock after acquiring an additional 94 shares during the quarter. Iowa State Bank’s holdings in Cencora were worth $2,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the 1st quarter valued at about $28,000. Costello Asset Management INC acquired a new position in shares of Cencora during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cencora in the first quarter valued at about $39,000. Finally, Golden State Wealth Management LLC lifted its position in Cencora by 157.6% in the first 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 during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 2.0%

Shares of NYSE:COR opened at $302.54 on Monday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market capitalization of $58.66 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. The firm’s 50-day moving average is $294.68 and its two-hundred day moving average is $290.41. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $315.23.

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

Cencora Dividend Announcement

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

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 over the last quarter. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on COR. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average 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.