1ST Source Bank Invests $210,000 in Cencora, Inc. (NYSE:COR)

1ST Source Bank acquired a new position in Cencora, Inc. (NYSE:COR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 866 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Cencora in the 4th quarter valued at about $4,212,508,000. Bank of New York Mellon Corp bought a new stake in Cencora in the first quarter valued at approximately $291,825,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Cencora in the first quarter valued at approximately $238,457,000. Coho Partners Ltd. bought a new position in Cencora during the 1st quarter worth approximately $206,194,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of Cencora in the 1st quarter worth approximately $191,309,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Down 0.0 %

Shares of NYSE COR traded down $0.11 during midday trading on Friday, hitting $223.60. 1,357,117 shares of the stock traded hands, compared to its average volume of 1,543,746. 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, Inc. has a one year low of $171.65 and a one year high of $246.75. The business has a 50 day moving average price of $226.58 and a two-hundred day moving average price of $229.94. The company has a market cap of $44.60 billion, a PE ratio of 24.46, a P/E/G ratio of 1.55 and a beta of 0.45.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the business posted $3.50 EPS. Cencora’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Cencora, Inc. will post 13.46 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Dermot Mark Durcan bought 500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the acquisition, the director now directly owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Dermot Mark Durcan bought 500 shares of the stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $218.58 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now owns 13,284 shares in the company, valued at $2,973,756.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,899,112 shares of company stock valued at $408,654,376. Corporate insiders own 15.80% of the company’s stock.

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.