Exchange Traded Concepts LLC Acquires 48 Shares of Cencora, Inc. (NYSE:COR)

Exchange Traded Concepts LLC lifted its holdings in Cencora, Inc. (NYSE:COR) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,104 shares of the company’s stock after purchasing an additional 48 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Cencora were worth $307,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hoey Investments Inc. bought a new stake in shares of Cencora in the first quarter worth $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Cencora in the fourth quarter worth $30,000. Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the fourth quarter worth $38,000. Finally, OFI Invest Asset Management bought a new stake in shares of Cencora in the fourth quarter worth $41,000. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $293.66 on Friday. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a market cap of $56.92 billion, a P/E ratio of 34.07, a P/E/G ratio of 1.45 and a beta of 0.58. The firm’s fifty day moving average price is $288.98 and its two-hundred day moving average price is $263.29. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the previous year, the company earned $3.80 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,253 shares of company stock worth $10,582,297. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

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.