Atria Wealth Solutions Inc. Has $1.78 Million Stock Position in Cencora, Inc. $COR

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Cencora, Inc. by 27.9%, holding shares worth approximately $1.78 million after selling 2,293 shares.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging $320.00, while Morgan Stanley set a price target of $330.00.
• Insider trading includes sales by CEO Robert P. Mauch and Chairman Steven H. Collis, who sold shares valued at over $10.5 million collectively in September.

Atria Wealth Solutions Inc. lowered its stake in Cencora, Inc. (NYSE:COR - Free Report) by 27.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,934 shares of the company's stock after selling 2,293 shares during the period. Atria Wealth Solutions Inc.'s holdings in Cencora were worth $1,779,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Obermeyer Wealth Partners increased its position in Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after acquiring an additional 36 shares during the period. Grove Bank & Trust increased its position in Cencora by 4.3% in the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after acquiring an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in Cencora by 0.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock valued at $2,563,000 after acquiring an additional 38 shares during the period. Monument Capital Management increased its position in Cencora by 2.4% in the 2nd quarter. Monument Capital Management now owns 1,637 shares of the company's stock valued at $491,000 after acquiring an additional 38 shares during the period. Finally, Cromwell Holdings LLC increased its position in Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COR. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Jefferies Financial Group upped their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Evercore ISI set a $340.00 price target on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen downgraded shares of Cencora from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $320.00.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of NYSE COR opened at $320.02 on Thursday. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $320.37. The firm has a fifty day simple moving average of $298.69 and a 200 day simple moving average of $292.53. The company has a market capitalization of $62.05 billion, a PE ratio of 32.92, a P/E/G ratio of 1.49 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $3.34 earnings per share. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

About Cencora

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.

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