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

Impax Asset Management Group plc purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,381 shares of the company's stock, valued at approximately $662,000.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after acquiring an additional 78,066 shares during the period. Bank of America Corp DE lifted its holdings in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Boston Partners lifted its holdings in Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after purchasing an additional 125,611 shares during the last quarter. Geode Capital Management LLC increased its position in Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after buying an additional 130,213 shares during the period. Finally, Invesco Ltd. increased its position in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated 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 directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,127 shares of company stock worth $9,812,296. Insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of NYSE:COR opened at $296.23 on Monday. The business's fifty day moving average price is $291.12 and its two-hundred day moving average price is $267.80. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock has a market capitalization of $57.42 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

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

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.74%. Cencora's dividend payout ratio (DPR) is 25.52%.

Analyst Ratings Changes

Several brokerages have commented on COR. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Jefferies Financial Group upped 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. Citigroup upped their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Bank of America upped their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, Robert W. Baird upped their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $306.33.

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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