Azzad Asset Management Inc. ADV Has $2.45 Million Stock Position in Cencora, Inc. (NYSE:COR)

Azzad Asset Management Inc. ADV grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 34.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,905 shares of the company's stock after buying an additional 2,800 shares during the period. Azzad Asset Management Inc. ADV's holdings in Cencora were worth $2,450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Banque Transatlantique SA bought a new stake in Cencora in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in Cencora in the fourth quarter valued at about $30,000. Kentucky Trust Co bought a new stake in Cencora in the fourth quarter valued at about $33,000. Finally, WASHINGTON TRUST Co increased its holdings in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company's stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,223 shares of company stock valued at $12,369,767 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Bank of America upped 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. Finally, Citigroup lifted their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $301.18.

Cencora Trading Up 0.3%

COR stock traded up $0.80 during midday trading on Friday, hitting $291.49. 3,890,003 shares of the company's stock were exchanged, compared to its average volume of 1,547,026. The stock's fifty day moving average price is $284.83 and its 200-day moving average price is $258.55. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The company has a market cap of $56.50 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same period in the prior year, the business earned $3.80 EPS. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, May 16th. Cencora's dividend payout ratio 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.