Occidental Asset Management LLC Takes Position in Cencora, Inc. (NYSE:COR)

Occidental Asset Management LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,811 shares of the company's stock, valued at approximately $3,599,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Cencora during the 4th quarter worth approximately $4,212,508,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Cencora during the 1st quarter valued at $66,911,000. PNC Financial Services Group Inc. purchased a new position in Cencora during the fourth quarter worth $51,339,000. Los Angeles Capital Management LLC acquired a new position in shares of Cencora in the first quarter worth $45,692,000. Finally, Pensioenfonds Rail & OV acquired a new position in shares of Cencora in the first quarter worth $37,371,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an "outperform" rating in a research report on Thursday, May 2nd. SVB Leerink restated an "outperform" rating and set a $275.00 target price on shares of Cencora in a research report on Thursday. Finally, StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $235.30.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company's stock, valued at $5,252,836,945.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction 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 sale, the executive vice president now owns 13,284 shares of the company's stock, valued at approximately $2,973,756.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company's stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company's stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,956,675 shares of company stock valued at $422,352,056. Company insiders own 15.80% of the company's stock.

Cencora Trading Down 1.2 %

Cencora stock traded down $2.66 during midday trading on Friday, reaching $225.30. The stock had a trading volume of 2,859,201 shares, compared to its average volume of 1,758,029. The stock's 50-day simple moving average is $229.12 and its 200 day simple moving average is $227.99. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The stock has a market capitalization of $44.94 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.58 and a beta of 0.48.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate 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%. The company's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.50 EPS. Analysts expect that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora's payout ratio is currently 22.32%.

About Cencora

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.