Voleon Capital Management LP Invests $3.11 Million in Cencora, Inc. $COR

Key Points

• Voleon Capital Management LP invested approximately $3.11 million in Cencora, Inc. by purchasing over 11,000 shares during the first quarter.
• Cencora reported a 12-month revenue growth of 8.7% and earnings per share of $4.00 for the last quarter, exceeding analyst estimates for both revenue and EPS.
• The company's recent quarterly dividend of $0.55 represents an annualized yield of 0.8% with a low payout ratio of 22.63%.

Voleon Capital Management LP purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,186 shares of the company's stock, valued at approximately $3,111,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the period. Hoey Investments Inc. purchased a new position in shares of Cencora in the first quarter worth about $28,000. Costello Asset Management INC purchased a new position in shares of Cencora in the first quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Cencora in the fourth quarter worth about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cencora in the first quarter worth about $39,000. Institutional investors own 97.52% of the company's stock.

Cencora Trading Up 0.0%

NYSE:COR traded up $0.03 during mid-day trading on Friday, reaching $302.83. 1,189,360 shares of the company's stock traded hands, compared to its average volume of 1,313,938. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 1.44 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a 50 day moving average price of $293.24 and a 200-day moving average price of $285.74.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the previous year, the business earned $3.34 EPS. Cencora's revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. 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 lifted their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $311.25.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

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.