Janney Montgomery Scott LLC Acquires 2,058 Shares of Cencora, Inc. $COR

Janney Montgomery Scott LLC boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,984 shares of the company’s stock after acquiring an additional 2,058 shares during the period. Janney Montgomery Scott LLC’s holdings in Cencora were worth $13,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in shares of Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after acquiring an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Cencora in the first quarter valued at about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after acquiring an additional 439,008 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,993 shares of company stock valued at $16,292,923. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COR. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Wells Fargo & Company lifted their target price on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Trading Down 2.0%

Cencora stock opened at $302.54 on Friday. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $315.23. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market capitalization of $58.66 billion, a P/E ratio of 31.13, a PEG ratio of 1.44 and a beta of 0.63. The stock has a 50-day simple moving average of $294.68 and a 200 day simple moving average of $290.08.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter last year, the company posted $3.34 earnings per share. Cencora’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

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.