Axxcess Wealth Management LLC Buys 4,342 Shares of Cencora, Inc. (NYSE:COR)

Axxcess Wealth Management LLC increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 63.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,168 shares of the company's stock after buying an additional 4,342 shares during the quarter. Axxcess Wealth Management LLC's holdings in Cencora were worth $3,106,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COR. SBI Securities Co. Ltd. bought a new stake in shares of Cencora during the fourth quarter worth $30,000. Proficio Capital Partners LLC purchased a new position in shares of Cencora during the fourth quarter worth approximately $31,936,000. Daiwa Securities Group Inc. raised its position in Cencora by 31.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 30,106 shares of the company's stock valued at $6,764,000 after purchasing an additional 7,171 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Cencora by 64.7% in the 4th quarter. Independent Advisor Alliance now owns 1,659 shares of the company's stock worth $373,000 after buying an additional 652 shares during the period. Finally, Pzena Investment Management LLC bought a new position in shares of Cencora during the 4th quarter worth $271,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

Shares of COR stock opened at $300.13 on Thursday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market capitalization of $58.17 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.48 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The stock's 50-day simple moving average is $291.72 and its 200-day simple moving average is $268.75.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the previous year, the firm earned $3.80 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.73%. Cencora's payout ratio is 25.52%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer owned 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,127 shares of company stock worth $9,812,296 in the last 90 days. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Citigroup lifted their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and an average target price of $306.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.