Cencora, Inc. (NYSE:COR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,881 shares of the company's stock after selling 1,649 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Cencora were worth $7,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Longboard Asset Management LP purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $239,000. EQ Wealth Advisors LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $199,000. Flagship Harbor Advisors LLC grew its stake in shares of Cencora by 11.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,907 shares of the company's stock valued at $530,000 after buying an additional 197 shares during the period. Suncoast Equity Management grew its stake in shares of Cencora by 2.4% in the 1st quarter. Suncoast Equity Management now owns 28,052 shares of the company's stock valued at $7,801,000 after buying an additional 645 shares during the period. Finally, Perfromance Wealth Partners LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $203,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research note on Tuesday, April 15th. UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.

Cencora Stock Up 0.4%

COR stock opened at $294.16 on Wednesday. The company has a market cap of $57.02 billion, a P/E ratio of 34.13, a P/E/G ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company's 50-day moving average price is $289.36 and its 200 day moving average price is $263.98. 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 announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The company had revenue of $75.50 billion during 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 firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.80 earnings per share. On average, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred 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 transaction, the chairman now owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.