Sumitomo Life Insurance Co. Sells 616 Shares of Cencora, Inc. (NYSE:COR)

Sumitomo Life Insurance Co. decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 11.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,913 shares of the company’s stock after selling 616 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Cencora were worth $1,107,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of COR. Valeo Financial Advisors LLC increased its position in Cencora by 3.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after buying an additional 51 shares during the period. MJP Associates Inc. ADV increased its position in Cencora by 3.2% during the second quarter. MJP Associates Inc. ADV now owns 2,372 shares of the company’s stock worth $534,000 after acquiring an additional 73 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Cencora by 9.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,012 shares of the company’s stock worth $228,000 after purchasing an additional 87 shares in the last quarter. Cooper Financial Group boosted its holdings in Cencora by 3.2% in the 2nd quarter. Cooper Financial Group now owns 2,920 shares of the company’s stock valued at $658,000 after purchasing an additional 91 shares during the period. Finally, Rise Advisors LLC acquired a new position in shares of Cencora during the 1st quarter worth approximately $25,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COR shares. Wells Fargo & Company boosted their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Robert W. Baird increased their target price on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Citigroup raised their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $254.57.

Cencora Price Performance

COR stock traded up $1.44 during midday trading on Friday, reaching $238.11. 1,013,198 shares of the stock were exchanged, compared to its average volume of 1,384,765. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53. The stock has a market capitalization of $47.49 billion, a PE ratio of 26.05, a P/E/G ratio of 1.68 and a beta of 0.45. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $247.66. The company has a fifty day moving average price of $231.19 and a 200 day moving average price of $232.64.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.92 earnings per share. As a group, analysts expect that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on 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 transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, 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 have sold a total of 6,338,756 shares of company stock worth $1,476,658,274 in the last 90 days. Corporate insiders own 15.80% of the company’s stock.

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.