Azzad Asset Management Inc. ADV Purchases New Position in Cencora, Inc. (NYSE:COR)

Azzad Asset Management Inc. ADV acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 8,105 shares of the company's stock, valued at approximately $1,824,000.

A number of other large investors have also bought and sold shares of COR. Rise Advisors LLC bought a new stake in shares of Cencora in the first quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Cencora during the 2nd quarter worth approximately $26,000. TCTC Holdings LLC bought a new position in shares of Cencora during the 1st quarter worth approximately $29,000. TFO Wealth Partners LLC bought a new stake in shares of Cencora in the first quarter worth $30,000. Finally, LRI Investments LLC bought a new stake in shares of Cencora in the first quarter worth $31,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COR. Evercore ISI lowered their price target on shares of Cencora from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday. StockNews.com lowered Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Wells Fargo & Company raised their price target on Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Finally, Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $259.44.

Cencora Stock Performance

Shares of NYSE COR traded up $1.30 during mid-day trading on Tuesday, reaching $220.80. 1,598,843 shares of the company were exchanged, compared to its average volume of 1,416,660. Cencora, Inc. has a twelve month low of $182.62 and a twelve month high of $247.66. The stock has a market capitalization of $44.04 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.58 and a beta of 0.44. The company's 50-day simple moving average is $234.25 and its 200-day simple moving average is $231.76. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.92 earnings per share. As a group, research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio (DPR) is 22.32%.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company's stock, valued at $63,323,746.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of the 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 sale, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares of the company's stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 in the last quarter. Corporate insiders own 15.80% of the company's stock.

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.