Longboard Asset Management LP Invests $239,000 in Cencora, Inc. (NYSE:COR)

Longboard Asset Management LP bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 859 shares of the company's stock, valued at approximately $239,000.

Several other hedge funds have also made changes to their positions in the stock. Atria Wealth Solutions Inc. lifted its stake in Cencora by 31.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,621 shares of the company's stock worth $2,162,000 after purchasing an additional 2,303 shares during the period. Abound Financial LLC bought a new position in Cencora during the fourth quarter worth about $477,000. Howard Capital Management Inc. lifted its stake in Cencora by 31.5% during the fourth quarter. Howard Capital Management Inc. now owns 1,400 shares of the company's stock worth $315,000 after purchasing an additional 335 shares during the period. Union Bancaire Privee UBP SA bought a new position in Cencora during the fourth quarter worth about $2,892,000. Finally, IFP Advisors Inc increased its holdings in shares of Cencora by 105.0% during the fourth quarter. IFP Advisors Inc now owns 1,810 shares of the company's stock worth $410,000 after buying an additional 927 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COR. UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Citigroup raised their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, April 22nd. The shares were 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 in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.4%

COR stock traded up $1.03 during midday trading on Tuesday, reaching $294.16. The company's stock had a trading volume of 1,183,232 shares, compared to its average volume of 1,520,444. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a market cap of $57.01 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The business's 50-day simple moving average is $289.36 and its 200-day simple moving average is $263.98.

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

Cencora Announces Dividend

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

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.