Equitable Trust Co. Purchases Shares of 8,215 Cencora, Inc. (NYSE:COR)

Key Points

• Equitable Trust Co. has invested approximately $2.29 million in Cencora, Inc. by acquiring 8,215 shares of its stock during the first quarter.
• Insiders at Cencora, including CEO Robert P. Mauch and Chairman Steven H. Collis, have recently sold significant amounts of their shares, indicating a 10.50% and 4.49% decrease in their respective ownerships.
• Cencora's stock has been rated positively, with an average rating of "Moderate Buy" and a consensus price target of $309.83 from analysts.

Equitable Trust Co. purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,215 shares of the company's stock, valued at approximately $2,285,000.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in shares of Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock valued at $427,000 after purchasing an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after acquiring an additional 2,087 shares in the last quarter. Westpac Banking Corp increased its position in shares of Cencora by 13.5% in the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock valued at $4,919,000 after buying an additional 2,596 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COR. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird lifted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, UBS Group upped their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Cencora Stock Performance

COR traded up $1.53 during trading on Wednesday, hitting $291.30. 137,773 shares of the stock were exchanged, compared to its average volume of 1,573,651. The firm has a market capitalization of $56.46 billion, a P/E ratio of 33.81, a PEG ratio of 1.42 and a beta of 0.57. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The stock has a fifty day moving average price of $293.12 and a two-hundred day moving average price of $275.23. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.80 earnings per share. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by insiders.

Cencora 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.