FORVIS Wealth Advisors LLC Takes Position in Cencora, Inc. (NYSE:COR)

FORVIS Wealth Advisors LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 3,030 shares of the company’s stock, valued at approximately $736,000.

A number of other institutional investors have also added to or reduced their stakes in COR. Fisher Asset Management LLC acquired a new position in shares of Cencora during the fourth quarter worth $244,000. Trust Co. of Vermont acquired a new position in Cencora in the 4th quarter worth about $62,000. Wahed Invest LLC bought a new position in Cencora in the fourth quarter valued at about $567,000. Vanguard Group Inc. acquired a new stake in shares of Cencora during the fourth quarter valued at about $4,212,508,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Cencora during the fourth quarter worth about $3,307,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Down 0.0 %

Shares of NYSE:COR traded down $0.01 during midday trading on Thursday, reaching $222.50. The company’s stock had a trading volume of 648,190 shares, compared to its average volume of 1,716,663. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The firm has a 50 day moving average price of $227.90 and a two-hundred day moving average price of $228.39. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.55 and a beta of 0.45.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. As a group, analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, May 9th. Cencora’s payout ratio is 22.32%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COR shares. Citigroup raised their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. SVB Leerink reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Robert W. Baird increased their price objective on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.30.

Insiders Place Their Bets

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is currently owned by company 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.