Weaver Consulting Group Invests $486,000 in Cencora, Inc. (NYSE:COR)

Weaver Consulting Group acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 1,747 shares of the company's stock, valued at approximately $486,000.

A number of other hedge funds also recently made changes to their positions in COR. Price T Rowe Associates Inc. MD lifted its holdings in Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after purchasing an additional 78,066 shares in the last quarter. Bank of America Corp DE increased its stake in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Boston Partners increased its stake in Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after buying an additional 125,611 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cencora by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after acquiring an additional 130,213 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after acquiring an additional 550,246 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

COR stock opened at $291.07 on Thursday. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The firm has a market capitalization of $56.41 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The company has a fifty day simple moving average of $290.63 and a two-hundred day simple moving average of $266.30. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

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

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Analysts Set New Price Targets

Several analysts recently issued reports on COR shares. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday. Bank of America upped their price target on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Citigroup lifted their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Finally, Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $306.33.

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 value of $1,437,680.77. Following the completion of the sale, the chief executive officer owned 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction 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. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,127 shares of company stock worth $9,812,296 in the last 90 days. 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.

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