Janus Henderson Group PLC Takes Position in Cencora, Inc. (NYSE:COR)

Janus Henderson Group PLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 921,755 shares of the company’s stock, valued at approximately $223,970,000. Janus Henderson Group PLC owned 0.46% of Cencora as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Cencora in the first quarter valued at $25,000. Legacy Bridge LLC purchased a new stake in shares of Cencora in the first quarter valued at $27,000. TCTC Holdings LLC purchased a new stake in shares of Cencora in the first quarter valued at $29,000. TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the first quarter valued at $30,000. Finally, WASHINGTON TRUST Co acquired a new position in Cencora in the first quarter valued at $32,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 1.7 %

Shares of COR traded up $3.85 during midday trading on Tuesday, reaching $231.03. 1,780,330 shares of the company were exchanged, compared to its average volume of 1,366,099. The stock has a 50-day moving average price of $227.08 and a 200-day moving average price of $230.76. The company has a market cap of $46.08 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 1.58 and a beta of 0.45. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

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

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

Analyst Ratings Changes

A number of brokerages recently weighed in on COR. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup lifted their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird lifted their target price on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Finally, SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.78.

Insider Activity at Cencora

In other news, Director Dermot Mark Durcan acquired 500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the acquisition, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan acquired 500 shares of Cencora stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $218.58 per share, with a total value of $109,290.00. Following the completion of the transaction, the director now owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold a total of 1,899,112 shares of company stock valued at $408,654,376 over the last three months. 15.80% of the stock is owned by insiders.

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.