Impax Asset Management Group plc Purchases New Position in Cencora, Inc. (NYSE:COR)

Impax Asset Management Group plc acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,381 shares of the company's stock, valued at approximately $662,000.

Several other large investors have also modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in Cencora by 212.4% during the 4th quarter. Jones Financial Companies Lllp now owns 2,390 shares of the company's stock worth $537,000 after buying an additional 1,625 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora in the fourth quarter valued at $30,000. M&T Bank Corp lifted its holdings in shares of Cencora by 4.3% in the fourth quarter. M&T Bank Corp now owns 15,592 shares of the company's stock valued at $3,503,000 after purchasing an additional 636 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Cencora in the fourth quarter valued at $31,936,000. Finally, Candriam S.C.A. lifted its holdings in shares of Cencora by 2.2% in the fourth quarter. Candriam S.C.A. now owns 8,040 shares of the company's stock valued at $1,806,000 after purchasing an additional 176 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Citigroup increased their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Robert W. Baird upped their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Bank of America upped their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $306.33.

Cencora Stock Up 2.1%

Cencora stock traded up $6.20 during mid-day trading on Monday, hitting $302.43. 1,597,776 shares of the company's stock were exchanged, compared to its average volume of 1,507,152. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The stock has a market cap of $58.62 billion, a P/E ratio of 35.08, a P/E/G ratio of 1.47 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 50 day moving average of $291.12 and a two-hundred day moving average of $267.80.

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

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,127 shares of company stock worth $9,812,296. Company insiders own 10.80% of the company's stock.

Cencora Company 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.