iA Global Asset Management Inc. Buys Shares of 13,157 Cencora, Inc. (NYSE:COR)

iA Global Asset Management Inc. purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,157 shares of the company’s stock, valued at approximately $3,197,000.

A number of other institutional investors and hedge funds have also modified their holdings of COR. TD Asset Management Inc bought a new position in shares of Cencora during the first quarter worth $95,313,000. LSV Asset Management bought a new stake in shares of Cencora in the first quarter worth about $3,579,000. Cairn Investment Group Inc. acquired a new stake in shares of Cencora during the first quarter worth about $2,294,000. Lake Street Advisors Group LLC bought a new position in shares of Cencora during the 1st quarter valued at about $836,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Cencora during the 1st quarter worth approximately $1,862,000. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the sale, the executive vice president now owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,899,112 shares of company stock valued at $408,654,376. 15.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COR. Wells Fargo & Company increased their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird lifted their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup increased their price objective on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.00.

Cencora Stock Performance

Shares of COR stock traded down $0.03 during midday trading on Friday, hitting $244.43. 1,554,840 shares of the company were exchanged, compared to its average volume of 1,379,866. The firm has a market capitalization of $48.75 billion, a P/E ratio of 26.74, a PEG ratio of 1.65 and a beta of 0.45. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $246.75. The firm’s 50 day moving average price is $228.28 and its two-hundred day moving average price is $230.99.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 271.72% and a net margin of 0.65%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $2.92 EPS. As a group, equities research analysts anticipate that Cencora, Inc. will post 13.47 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.83%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

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.