OFI Invest Asset Management Makes New $112,000 Investment in Cencora, Inc. $COR

OFI Invest Asset Management acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 373 shares of the company’s stock, valued at approximately $112,000.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after buying an additional 787,858 shares during the period. Wellington Management Group LLP grew its stake in Cencora by 7.2% during the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock worth $1,507,599,000 after buying an additional 363,402 shares during the period. Boston Partners grew its stake in Cencora by 8.1% during the first quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after buying an additional 404,093 shares during the period. Invesco Ltd. grew its stake in Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after buying an additional 1,364,433 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Cencora by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock valued at $475,890,000 after purchasing an additional 154,311 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 1.2%

NYSE COR opened at $318.01 on Monday. Cencora, Inc. has a 12 month low of $221.95 and a 12 month high of $319.68. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The company’s fifty day moving average price is $296.99 and its two-hundred day moving average price is $291.87.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the firm posted $3.34 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 over the last quarter. 10.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COR. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Evercore ISI set a $340.00 target price on shares of Cencora in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Finally, Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.00.

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.