Raymond James & Associates Sells 2,475 Shares of Cencora, Inc. (NYSE:COR)

Raymond James & Associates lowered its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,649 shares of the company's stock after selling 2,475 shares during the quarter. Raymond James & Associates owned 0.13% of Cencora worth $59,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of COR. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in shares of Cencora during the 1st quarter worth approximately $1,199,695,000. Boston Partners purchased a new stake in shares of Cencora during the 1st quarter worth approximately $1,001,269,000. Capital Research Global Investors purchased a new stake in shares of Cencora during the 1st quarter worth approximately $650,424,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Cencora during the 1st quarter worth approximately $556,245,000. Institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of COR traded down $2.37 during mid-day trading on Tuesday, reaching $234.17. 1,000,229 shares of the stock traded hands, compared to its average volume of 1,418,952. The firm has a fifty day moving average price of $232.32 and a 200 day moving average price of $230.85. The company has a market cap of $46.71 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 1 year low of $182.75 and a 1 year high of $247.66.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio is currently 22.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COR shares. Bank of America restated a "neutral" rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. StockNews.com lowered shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of 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. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird reduced their price objective on shares of Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $259.44.

Insider Transactions at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction 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 completion of the sale, the insider now directly owns 19,980,000 shares of the company's stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company's stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company's stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by 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.