Stanley Laman Group Ltd. Buys 401 Shares of Cencora, Inc. (NYSE:COR)

Stanley Laman Group Ltd. grew its stake in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 19,754 shares of the company’s stock after purchasing an additional 401 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Cencora were worth $4,446,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Waldron Private Wealth LLC boosted its stake in shares of Cencora by 31.5% during the 3rd quarter. Waldron Private Wealth LLC now owns 1,469 shares of the company’s stock valued at $331,000 after purchasing an additional 352 shares in the last quarter. Eastern Bank bought a new stake in shares of Cencora during the 3rd quarter valued at about $130,000. Sequoia Financial Advisors LLC boosted its stake in shares of Cencora by 23.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,630 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,245 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Cencora by 35.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,287 shares of the company’s stock valued at $1,190,000 after acquiring an additional 1,395 shares during the period. Finally, Ledyard National Bank lifted its position in Cencora by 23.4% during the 3rd quarter. Ledyard National Bank now owns 4,764 shares of the company’s stock valued at $1,072,000 after acquiring an additional 904 shares during the period. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COR. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI lowered their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, Bank of America reissued a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

Cencora Stock Down 1.0 %

Shares of Cencora stock opened at $234.17 on Wednesday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The stock has a market capitalization of $46.71 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66. The company has a 50-day simple moving average of $232.32 and a two-hundred day simple moving average of $230.85.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current fiscal 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. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. Cencora’s payout ratio is 22.32%.

Insider Activity at Cencora

In related news, 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 completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The trade was 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 company 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.