Avior Wealth Management LLC Buys 866 Shares of Cencora, Inc. $COR

Key Points

• Avior Wealth Management LLC increased its stake in Cencora, Inc., now owning a total of 5,509 shares valued at $1,652,000 after purchasing an additional 866 shares.
• Insider selling was notable as CEO Robert P. Mauch sold 5,097 shares, and Chairman Steven H. Collis sold 31,350 shares, leading to a decrease in their ownership percentages.
• Several brokerages have set new price targets for Cencora, with Wells Fargo raising its target from $337.00 to $354.00 and maintaining an "overweight" rating.

Avior Wealth Management LLC increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 18.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,509 shares of the company's stock after purchasing an additional 866 shares during the period. Avior Wealth Management LLC's holdings in Cencora were worth $1,652,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of COR. Cornerstone Planning Group LLC increased its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after buying an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in shares of Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC bought a new position in Cencora in the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Cencora in the first quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC raised its position in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on COR. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company increased their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $311.25.

Cencora Stock Up 2.7%

Shares of NYSE COR opened at $306.94 on Monday. The company has a 50 day simple moving average of $293.00 and a 200 day simple moving average of $288.82. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $310.00. The firm has a market cap of $59.51 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62.

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

Cencora Announces Dividend

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

Cencora Company 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.

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