Oppenheimer & Co. Inc. Raises Stock Position in Cencora, Inc. (NYSE:COR)

Oppenheimer & Co. Inc. lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 40.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,379 shares of the company's stock after purchasing an additional 2,430 shares during the period. Oppenheimer & Co. Inc.'s holdings in Cencora were worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Longboard Asset Management LP acquired a new stake in Cencora during the 1st quarter valued at approximately $239,000. EQ Wealth Advisors LLC bought a new stake in shares of Cencora in the 1st quarter valued at $199,000. Flagship Harbor Advisors LLC boosted its stake in shares of Cencora by 11.5% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,907 shares of the company's stock valued at $530,000 after purchasing an additional 197 shares during the last quarter. Suncoast Equity Management increased its position in shares of Cencora by 2.4% during the first quarter. Suncoast Equity Management now owns 28,052 shares of the company's stock worth $7,801,000 after buying an additional 645 shares during the period. Finally, Perfromance Wealth Partners LLC bought a new position in Cencora during the first quarter worth $203,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COR shares. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. 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 report on Thursday, May 8th. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, UBS Group lifted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $306.91.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% 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. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Up 1.1%

NYSE COR traded up $3.13 during mid-day trading on Friday, hitting $299.71. The company's stock had a trading volume of 2,156,014 shares, compared to its average volume of 1,520,847. The firm has a market capitalization of $58.09 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 1.45 and a beta of 0.58. The company's 50 day simple moving average is $289.70 and its 200 day simple moving average is $264.56. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

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.