2,709 Shares in Cencora, Inc. (NYSE:COR) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired 2,709 shares of Cencora, Inc., valued at approximately $753,000, reflecting ongoing interest from institutional investors in the company.
• Cencora reported $4.42 earnings per share for the last quarter, exceeding analysts' expectations and showcasing a 10.3% year-over-year revenue growth.
• Recent analyst ratings indicate a consensus "Moderate Buy" for Cencora, with price targets ranging from $298 to $355, further highlighting optimism in the stock's prospects.

Y Intercept Hong Kong Ltd bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,709 shares of the company's stock, valued at approximately $753,000.

A number of other hedge funds have also recently bought and sold shares of COR. Exchange Traded Concepts LLC raised its stake in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares during the period. Dynamic Advisor Solutions LLC increased its position in shares of Cencora by 6.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after acquiring an additional 2,087 shares in the last quarter. Westpac Banking Corp increased its position in shares of Cencora by 13.5% in the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after acquiring an additional 2,596 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent research reports. UBS Group increased their price objective on shares of 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 raised shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. 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. Finally, Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $309.83.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction 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. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,125 shares of company stock valued at $9,993,789. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

COR stock traded up $2.06 during trading on Wednesday, hitting $291.83. 649,684 shares of the company's stock traded hands, compared to its average volume of 939,650. 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, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a fifty day moving average price of $293.13 and a two-hundred day moving average price of $275.35. The stock has a market capitalization of $56.56 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57.

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

Cencora Dividend Announcement

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

Cencora 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.