44,741 Shares in Cencora, Inc. (NYSE:COR) Acquired by American International Group Inc.

American International Group Inc. purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, Holdings Channel reports. The firm purchased 44,741 shares of the company’s stock, valued at approximately $10,872,000.

A number of other large investors also recently bought and sold shares of COR. Rise Advisors LLC purchased a new stake in shares of Cencora during the 1st quarter valued at $25,000. Legacy Bridge LLC purchased a new position in shares of Cencora in the 1st quarter worth $27,000. TCTC Holdings LLC acquired a new position in Cencora in the first quarter valued at $29,000. WASHINGTON TRUST Co purchased a new stake in Cencora during the first quarter valued at about $32,000. Finally, Concord Wealth Partners acquired a new stake in Cencora during the first quarter worth about $33,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COR. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Citigroup boosted their price objective on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird raised their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.78.

Insiders Place Their Bets

In other Cencora news, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Gina Clark sold 27,093 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the sale, the executive vice president now owns 15,158 shares of the company’s stock, valued at $3,275,189.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold 1,899,112 shares of company stock worth $408,654,376 over the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

COR traded up $1.72 during midday trading on Wednesday, reaching $225.98. The company’s stock had a trading volume of 846,088 shares, compared to its average volume of 1,365,762. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The company has a fifty day simple moving average of $226.66 and a 200 day simple moving average of $230.42. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The stock has a market cap of $45.07 billion, a P/E ratio of 24.70, a PEG ratio of 1.56 and a beta of 0.45.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The company had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.