Mesirow Financial Investment Management Inc. Takes Position in Cencora, Inc. (NYSE:COR)

Key Points

• Mesirow Financial Investment Management Inc. has acquired 884 shares of Cencora, Inc. (NYSE:COR), valued at approximately $246,000, marking a new position for the investment firm in the 1st quarter.
• Cencora reported $75.50 billion in revenue for the quarter, surpassing analysts' expectations, with a net income of $4.42 EPS, which exceeded the forecast by $0.35.
• The company recently declared a quarterly dividend of $0.55 per share, translating to an annualized yield of 0.8%, with a payout ratio of 25.52%.

Mesirow Financial Investment Management Inc. acquired a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 884 shares of the company's stock, valued at approximately $246,000.

Several other large investors also recently bought and sold shares of COR. Franklin Resources Inc. increased its holdings in Cencora by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock worth $47,425,000 after buying an additional 3,945 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Cencora by 4.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,058 shares of the company's stock worth $912,000 after buying an additional 159 shares in the last quarter. Bryce Point Capital LLC bought a new stake in Cencora in the 4th quarter worth about $543,000. Nicolet Advisory Services LLC increased its holdings in Cencora by 7.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 2,849 shares of the company's stock worth $673,000 after buying an additional 202 shares in the last quarter. Finally, World Investment Advisors increased its holdings in Cencora by 6.8% in the 4th quarter. World Investment Advisors now owns 19,317 shares of the company's stock worth $4,340,000 after buying an additional 1,227 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Up 0.8%

COR stock opened at $288.31 on Friday. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The stock has a market cap of $55.88 billion, a P/E ratio of 33.45, a PEG ratio of 1.42 and a beta of 0.57. The business's 50-day moving average price is $292.97 and its 200-day moving average price is $276.02.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 previous year, the firm earned $3.80 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is currently 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the business's 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 transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on COR shares. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. UBS Group boosted their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird boosted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $309.83.

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.

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