Optivise Advisory Services LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Optivise Advisory Services LLC acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 871 shares of the company's stock, valued at approximately $242,000.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in Cencora in the fourth quarter valued at approximately $478,309,000. Bank of America Corp DE increased its stake in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Cencora in the fourth quarter valued at approximately $399,508,000. GAMMA Investing LLC increased its stake in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $322,460,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.3%

Cencora stock traded up $3.72 during mid-day trading on Thursday, reaching $296.92. The company's stock had a trading volume of 1,167,452 shares, compared to its average volume of 1,526,132. The company has a market capitalization of $57.55 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.58. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The business's 50 day simple moving average is $288.80 and its 200 day simple moving average is $262.88. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR - Get Free Report) last released its 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. The business had revenue of $75.50 billion during 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 firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.80 earnings per share. As a group, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COR shares. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average target price of $306.91.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,253 shares of company stock worth $10,582,297 over the last quarter. 10.80% of the stock is currently owned by insiders.

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.