Cidel Asset Management Inc. Makes New Investment in Cencora, Inc. (NYSE:COR)

Cidel Asset Management Inc. acquired a new position in Cencora, Inc. (NYSE:COR) during the first quarter, HoldingsChannel reports. The institutional investor acquired 822 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds have also recently made changes to their positions in the company. Hoey Investments Inc. purchased a new position in shares of Cencora during the first quarter valued at about $28,000. Banque Transatlantique SA bought a new stake in Cencora during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Cencora during the 4th quarter worth approximately $30,000. Vermillion Wealth Management Inc. bought a new position in shares of Cencora in the 4th quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC raised its position in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Down 1.4%

NYSE:COR opened at $291.07 on Thursday. The firm has a 50-day simple moving average of $290.63 and a two-hundred day simple moving average of $266.30. The firm has a market cap of $56.41 billion, a P/E ratio of 33.77, a P/E/G ratio of 1.46 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.80 earnings per share. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is currently 25.52%.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares of the company’s stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on COR. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Citigroup boosted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. UBS Group increased their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $306.33.

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.