TimesSquare Capital Management LLC Purchases Shares of 496,412 Cencora, Inc. (NYSE:COR)

TimesSquare Capital Management LLC purchased a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 496,412 shares of the company’s stock, valued at approximately $120,623,000. Cencora comprises approximately 1.8% of TimesSquare Capital Management LLC’s holdings, making the stock its 4th largest position. TimesSquare Capital Management LLC owned about 0.25% of Cencora as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $27,000. WASHINGTON TRUST Co acquired a new position in shares of Cencora in the 1st quarter valued at about $32,000. Hanson & Doremus Investment Management acquired a new position in shares of Cencora in the 1st quarter valued at about $33,000. Finally, OFI Invest Asset Management acquired a new position in shares of Cencora in the 1st quarter valued at about $33,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cencora news, Director Dermot Mark Durcan bought 500 shares of Cencora stock in a transaction dated 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 acquisition, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock valued at $422,352,056 over the last three months. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup upped their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.10.

Cencora Stock Up 0.3 %

Shares of Cencora stock traded up $0.60 on Friday, hitting $222.60. The company had a trading volume of 791,079 shares, compared to its average volume of 1,453,087. The stock has a market capitalization of $44.40 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 1.54 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 stock has a 50 day moving average of $226.65 and a 200-day moving average of $229.44. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 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.