Tobam increases holdings in Cencora, Inc. (NYSE:COR)

VaselineOctober 10, 2024

0 5 minutes read

Tobam raised its stake in Cencora, Inc. (NYSE:COR – Free Report) by 85.7% during the third quarter, according to the company in its most recent SEC disclosure. The institutional investor owned 25,030 shares of the company’s stock after purchasing an additional 11,549 shares during the quarter. Tobam’s holdings in Cencora were worth $5,634,000 at the end of the most recent reporting period.

A number of other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Cencora in the first quarter worth about $25,000. New Millennium Group LLC acquired a new position in Cencora in the second quarter valued at about $26,000. TCTC Holdings LLC purchased a new position in Cencora in the first quarter worth about $29,000. TFO Wealth Partners LLC purchased a new position in Cencora in the first quarter worth about $30,000. Finally, LRI Investments LLC acquired a new stake in Cencora in the first quarter valued at $31,000. Hedge funds and other institutional investors own 97.52% of the company’s shares.

Insider buying and selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The shares were 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. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value 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. The transaction represented a decrease of 0.00 % in the stock holding. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last three months. 15.80% of shares are owned by corporate insiders.

Stock Cencora 0.4%

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COR traded up $0.94 on Thursday, hitting $222.10. 416,869 shares of the company traded hands, compared to its average volume of 1,410,904. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66. The company has a market cap of $44.30 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 1.58 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. The firm has a 50 day moving average price of $233.91 and a two hundred day moving average price of $231.68.

Cencora (NYSE:COR – Get Your Free Report ) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. 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 firm posted EPS of $2.92. Cencora’s revenue for the quarter was up 10.8% year over year. On average, equities analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora announces dividends

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9. This represents an annualized dividend of $2.04 and a yield of 0.92%. Cencora’s payout ratio is 22.32%.

Changes in Analyst Ratings

COR has been the subject of a number of research analyst reports. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday. Evercore ISI cut their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday. Bank of America restated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird dropped their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th . Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.44.

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About Cencora

(Free report)

Cencora, Inc supplies and distributes pharmaceutical products. The company’s US Healthcare Solutions segment distributes pharmaceuticals, over-the-counter health care products, home health care supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, pharmacies mail order, medical clinics, long term medical clinics. care pharmacies and other locations and other customers; provides pharmacy management, staffing and other consulting services; providing management software to retail and institutional healthcare providers; packaging solutions for various institutional and retail healthcare providers; clinical trial support, post-approval support services and product marketing; data analysis, results research and additional services for biotech and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, microfeed ingredients and other products to the pet and production animal markets; and sales force services to manufacturers.