Baader Bank Aktiengesellschaft Buys Shares of 1,036 Cencora, Inc. (NYSE:COR)

Key Points

• Baader Bank Aktiengesellschaft has invested $279,000 in Cencora, Inc. (NYSE:COR), acquiring 1,036 shares during the first quarter as reported in a recent SEC filing.
• Insider sales have occurred recently, with CEO Robert P. Mauch and Chairman Steven H. Collis selling shares, leading to a 10.50% and 4.49% decrease in their respective holdings.
• Analysts have shown optimism for Cencora, with multiple firms raising their price targets, resulting in a current average price target of $309.83 and a consensus rating of "Moderate Buy."

Baader Bank Aktiengesellschaft acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,036 shares of the company's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Bank of America Corp DE increased its position in Cencora by 62.3% in 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 during the period. Castlekeep Investment Advisors LLC bought a new position in Cencora during the fourth quarter worth about $399,508,000. GAMMA Investing LLC boosted its holdings in Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after buying an additional 1,594,800 shares during the last quarter. Invesco Ltd. boosted its holdings in Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares during the last quarter. Finally, Close Asset Management Ltd bought a new position in Cencora during the first quarter worth about $110,629,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on COR shares. Bank of America lifted 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. Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $309.83.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares in the company, valued at $90,702,237.71. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 over the last 90 days. Insiders own 10.80% of the company's stock.

Cencora Trading Down 0.3%

NYSE:COR traded down $0.84 during midday trading on Tuesday, hitting $292.80. The stock had a trading volume of 588,332 shares, compared to its average volume of 1,561,026. The company has a market capitalization of $56.75 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 1.43 and a beta of 0.58. The stock has a 50-day moving average of $293.00 and a 200 day moving average of $276.90. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is 25.52%.

About Cencora

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.