Lecap Asset Management Ltd. Makes New Investment in Cencora, Inc. (NYSE:COR)

Lecap Asset Management Ltd. bought a new position in Cencora, Inc. (NYSE:COR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 9,163 shares of the company’s stock, valued at approximately $2,062,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COR. Kingswood Wealth Advisors LLC purchased a new position in Cencora during the second quarter valued at $655,000. TD Asset Management Inc bought a new stake in Cencora during the first quarter worth about $95,313,000. LSV Asset Management purchased a new stake in Cencora in the first quarter worth about $3,579,000. Cairn Investment Group Inc. purchased a new stake in Cencora in the first quarter worth about $2,294,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cencora during the first quarter valued at approximately $836,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on COR. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners dropped their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Evercore ISI reduced their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Robert W. Baird dropped their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Finally, Wells Fargo & Company raised their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $259.44.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction 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 owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Down 1.0 %

COR opened at $234.17 on Wednesday. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a 50 day moving average price of $232.32 and a 200-day moving average price of $230.85. The stock has a market capitalization of $46.71 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 EPS. Equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.87%. Cencora’s payout ratio is 22.32%.

Cencora 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.