Janney Montgomery Scott LLC Makes New $12.22 Million Investment in Cencora, Inc. (NYSE:COR)

Janney Montgomery Scott LLC purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,926 shares of the company's stock, valued at approximately $12,216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cencora in the 4th quarter valued at $478,309,000. Bank of America Corp DE grew its stake in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Cencora in the fourth quarter valued at $399,508,000. GAMMA Investing LLC raised its stake in 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 buying an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Cencora during the 4th quarter worth about $322,460,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. The trade was a 21.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares of the company's stock, valued at $89,027,442.53. This trade represents a 4.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock traded down $3.09 during trading on Friday, reaching $293.66. The company's stock had a trading volume of 3,544,162 shares, compared to its average volume of 1,534,172. The company has a 50-day moving average price of $288.80 and a two-hundred day moving average price of $262.88. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market cap of $56.92 billion, a PE ratio of 34.07, a P/E/G ratio of 1.47 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the previous year, the business posted $3.80 earnings per share. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on COR shares. Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Citigroup increased their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. UBS Group boosted their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $306.91.

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.