Alyeska Investment Group L.P. Invests $77.49 Million in Cencora, Inc. $COR

Key Points

• Alyeska Investment Group L.P. acquired 278,666 shares of Cencora, Inc., valued at approximately $77,494,000, giving them a 0.14% ownership stake.
• Insider sales were noted, with Chairman Steven H. Collis selling 14,579 shares and CEO Robert P. Mauch selling 4,968 shares, showcasing a decrease in their respective ownerships.
• Cencora reported quarterly earnings of $4.00 per share, exceeding estimates, with a revenue of $80.66 billion, marking an 8.7% increase from the previous year.

Alyeska Investment Group L.P. bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 278,666 shares of the company's stock, valued at approximately $77,494,000. Alyeska Investment Group L.P. owned about 0.14% of Cencora as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its stake in Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after acquiring an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock valued at $427,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after buying an additional 2,087 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Cencora by 157.6% during 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. Finally, Integrated Advisors Network LLC bought a new position in shares of Cencora during the first quarter valued at about $200,000. Institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COR. Wells Fargo & Company raised their price objective on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $311.25.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on 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 transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 0.1%

Shares of COR traded down $0.18 on Friday, hitting $292.52. 1,012,863 shares of the stock traded hands, compared to its average volume of 1,275,659. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a market capitalization of $56.71 billion, a PE ratio of 30.09, a P/E/G ratio of 1.39 and a beta of 0.62. The business has a 50 day simple moving average of $292.84 and a 200 day simple moving average of $283.88.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the previous year, the firm posted $3.34 EPS. The firm's revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast 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 was paid on Wednesday, September 3rd. Investors 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 dividend yield of 0.8%. Cencora's payout ratio is 22.63%.

Cencora Company 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.