Generali Asset Management SPA SGR Purchases 7,708 Shares of Cencora, Inc. $COR

Key Points

• Generali Asset Management SPA SGR increased its holdings in Cencora, Inc. by 38% during the 2nd quarter, now owning 27,978 shares valued at approximately $8.39 million.
• A recent report from Wells Fargo raised the price target for Cencora shares from $337 to $354, contributing to a consensus average price target of $320 among analysts.
• Cencora reported a quarterly EPS of $4.00, surpassing estimates and demonstrating an 8.7% increase in year-over-year revenue.

Generali Asset Management SPA SGR grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 38.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,978 shares of the company's stock after purchasing an additional 7,708 shares during the period. Generali Asset Management SPA SGR's holdings in Cencora were worth $8,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Costello Asset Management INC purchased a new position in Cencora in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Cencora in the 1st quarter valued at $39,000. Golden State Wealth Management LLC increased its position in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after purchasing an additional 104 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in shares of Cencora during the 1st quarter valued at $48,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COR shares. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cencora in a report on Wednesday, October 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. 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. Finally, Evercore ISI set a $340.00 price target on Cencora in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus price target of $320.00.

Cencora Price Performance

Shares of NYSE COR opened at $317.86 on Wednesday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $319.87. The stock has a market cap of $61.63 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. The stock has a fifty day moving average of $297.97 and a 200-day moving average of $292.34.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 EPS. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora's payout ratio is currently 22.63%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 in the last ninety days. 10.80% of the stock is currently 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.

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