Concord Wealth Partners Takes $30,000 Position in Cencora, Inc. (NYSE:COR)

Concord Wealth Partners bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 135 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new stake in Cencora during the second quarter worth approximately $655,000. TD Asset Management Inc purchased a new stake in Cencora during the first quarter worth approximately $95,313,000. LSV Asset Management purchased a new stake in Cencora during the first quarter worth approximately $3,579,000. Lake Street Advisors Group LLC purchased a new stake in Cencora during the first quarter worth approximately $836,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Cencora during the first quarter worth approximately $15,632,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent analyst reports. Bank of America restated a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI cut their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Stock Down 0.4 %

Shares of NYSE:COR opened at $233.61 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66. The stock’s fifty day simple moving average is $232.15 and its 200-day simple moving average is $230.76. The company has a market capitalization of $46.59 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.92 earnings per share. As a group, equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid 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 currently 22.32%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,461,153 shares of company stock worth $1,073,075,720. 15.80% of the stock is currently owned by insiders.

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.