MJP Associates Inc. ADV Buys 73 Shares of Cencora, Inc. (NYSE:COR)

MJP Associates Inc. ADV grew its stake in shares of Cencora, Inc. (NYSE:COR) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,372 shares of the company’s stock after buying an additional 73 shares during the period. MJP Associates Inc. ADV’s holdings in Cencora were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Cencora during the first quarter worth about $25,000. Legacy Bridge LLC bought a new position in shares of Cencora during the 1st quarter valued at about $27,000. TCTC Holdings LLC bought a new position in shares of Cencora during the 1st quarter valued at about $29,000. TFO Wealth Partners LLC bought a new position in shares of Cencora during the 1st quarter valued at about $30,000. Finally, LRI Investments LLC bought a new position in shares of Cencora during the 1st quarter valued at about $31,000. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on COR. SVB Leerink reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.57.

Insider Activity at Cencora

In related news, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cencora news, Director Dermot Mark Durcan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina Clark sold 27,093 shares of Cencora stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the sale, the executive vice president now owns 15,158 shares in the company, valued at $3,275,189.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,338,756 shares of company stock valued at $1,476,658,274. 15.80% of the stock is owned by insiders.

Cencora Stock Up 0.5 %

Cencora stock traded up $1.28 during midday trading on Friday, reaching $237.77. The stock had a trading volume of 1,258,770 shares, compared to its average volume of 1,395,790. The stock has a market capitalization of $47.42 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $247.66. The firm’s fifty day simple moving average is $230.76 and its 200-day simple moving average is $231.99. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, August 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.