Wealth Enhancement Advisory Services LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 275,366 shares of the company’s stock, valued at approximately $66,911,000. Wealth Enhancement Advisory Services LLC owned 0.14% of Cencora at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Rise Advisors LLC acquired a new position in shares of Cencora during the 1st quarter valued at $25,000. CVA Family Office LLC acquired a new position in shares of Cencora during the 1st quarter valued at $34,000. Bruce G. Allen Investments LLC acquired a new position in shares of Cencora during the 1st quarter valued at $43,000. Sunbelt Securities Inc. acquired a new position in shares of Cencora during the 1st quarter valued at $67,000. Finally, Trust Co. of Vermont acquired a new position in shares of Cencora during the 4th quarter valued at $62,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction 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 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 other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction 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 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. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,675 shares of company stock worth $422,352,056 in the last three months. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 4.0 %

NYSE COR opened at $227.89 on Friday. The firm has a market cap of $45.45 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75. The stock’s 50 day simple moving average is $229.40 and its 200 day simple moving average is $227.67. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53.

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

Cencora Announces Dividend

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

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.