Wright Investors Service Inc. trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 48.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,850 shares of the company's stock after selling 3,672 shares during the quarter. Wright Investors Service Inc.'s holdings in Cencora were worth $1,071,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in COR. Iowa State Bank raised its position in shares of Cencora by 4.5% during the first quarter. Iowa State Bank now owns 6,664 shares of the company's stock worth $1,853,000 after acquiring an additional 289 shares during the last quarter. Czech National Bank raised its position in shares of Cencora by 4.2% during the first quarter. Czech National Bank now owns 39,640 shares of the company's stock worth $11,023,000 after acquiring an additional 1,615 shares during the last quarter. Rhumbline Advisers raised its position in shares of Cencora by 0.8% during the first quarter. Rhumbline Advisers now owns 404,350 shares of the company's stock worth $112,446,000 after acquiring an additional 3,282 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Cencora by 30.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,563 shares of the company's stock worth $713,000 after acquiring an additional 605 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Cencora by 8.4% during the first quarter. Parallel Advisors LLC now owns 5,709 shares of the company's stock worth $1,588,000 after acquiring an additional 444 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.
Cencora Stock Down 0.5%
Shares of NYSE:COR traded down $1.41 during mid-day trading on Thursday, hitting $287.61. 324,169 shares of the company traded hands, compared to its average volume of 1,528,251. The stock has a 50-day moving average price of $285.86 and a two-hundred day moving average price of $259.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The stock has a market cap of $55.75 billion, a P/E ratio of 40.91, a P/E/G ratio of 1.31 and a beta of 0.60.
Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter in the previous year, the firm earned $3.80 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.
Cencora Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora's dividend payout ratio is currently 25.52%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on COR shares. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Citigroup lifted their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $306.91.
Get Our Latest Stock Analysis on COR
Insiders Place Their Bets
In other Cencora news, 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 value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company's stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This trade represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,253 shares of company stock valued at $11,102,417. Insiders own 10.80% of the company's stock.
Cencora Company Profile
(
Free Report)
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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