Sage Mountain Advisors LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Sage Mountain Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,013 shares of the company's stock, valued at approximately $282,000.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its stake in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. bought a new position in shares of Cencora in the first quarter worth $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora during the 4th quarter valued at $29,000. Vermillion Wealth Management Inc. bought a new position in Cencora in the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction 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 completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% 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 valued at $9,812,296. Insiders own 10.80% of the company's stock.

Cencora Price Performance

COR traded down $1.65 during midday trading on Friday, hitting $292.73. The stock had a trading volume of 1,049,106 shares, compared to its average volume of 1,504,722. The company has a market cap of $56.74 billion, a P/E ratio of 33.96, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The business has a fifty day moving average of $292.38 and a 200 day moving average of $272.08. 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, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 return on equity of 344.71% and a net margin of 0.55%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.80 earnings per share. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COR shares. Bank of America upped their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Robert W. Baird upped their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

About Cencora

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.