Evermay Wealth Management LLC Makes New $85,000 Investment in Cencora, Inc. (NYSE:COR)

Evermay Wealth Management LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 350 shares of the company’s stock, valued at approximately $85,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. TD Asset Management Inc acquired a new stake in shares of Cencora during the 1st quarter valued at $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora in the 1st quarter valued at $3,579,000. Cairn Investment Group Inc. acquired a new stake in shares of Cencora in the 1st quarter valued at $2,294,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cencora in the 1st quarter valued at $1,862,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cencora in the 1st quarter valued at $15,632,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COR has been the subject of several analyst reports. Robert W. Baird lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Finally, Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.78.

Insider Activity at Cencora

In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,899,112 shares of company stock valued at $408,654,376 over the last quarter. 15.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of NYSE:COR traded up $1.13 on Thursday, hitting $227.11. 969,411 shares of the company were exchanged, compared to its average volume of 1,363,092. The company’s 50 day moving average price is $226.85 and its two-hundred day moving average price is $230.36. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.56 and a beta of 0.45.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.50 EPS. Research analysts expect that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.90%. Cencora’s payout ratio is currently 22.32%.

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.