Raymond James & Associates Purchases New Holdings in Cencora, Inc. (NYSE:COR)

Raymond James & Associates acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 271,690 shares of the company’s stock, valued at approximately $66,018,000. Raymond James & Associates owned approximately 0.14% of Cencora at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Cencora in the 1st quarter valued at $25,000. CVA Family Office LLC purchased a new stake in shares of Cencora during the first quarter worth $34,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Cencora in the first quarter valued at about $43,000. Park Place Capital Corp purchased a new position in shares of Cencora in the first quarter worth about $46,000. Finally, Iron Horse Wealth Management LLC acquired a new position in Cencora during the first quarter worth about $64,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.4 %

Shares of COR stock traded down $0.79 during trading hours on Friday, hitting $223.95. The company had a trading volume of 2,222,046 shares, compared to its average volume of 1,292,259. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.52. The stock has a market capitalization of $44.67 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.69 and a beta of 0.47. The company’s fifty day moving average is $238.31 and its 200 day moving average is $219.15. Cencora, Inc. has a fifty-two week low of $163.37 and a fifty-two week high of $246.75.

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 company had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 earnings per share. Research analysts expect that Cencora, Inc. will post 13.46 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. Cencora’s dividend payout ratio is presently 22.32%.

Analyst Ratings Changes

A number of research analysts have weighed in on COR shares. Robert W. Baird boosted their target price on Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday. SVB Leerink started coverage on Cencora in a report on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Citigroup upped 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. Finally, Mizuho lifted their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $233.90.

Insider Activity

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the sale, the insider now owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the transaction, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gina Clark sold 1,100 shares of Cencora stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total value of $253,528.00. Following the sale, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. 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.