Cencora, Inc. $COR Position Lifted by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Cencora position by 139.8% in the third quarter, adding 91,404 shares for a total holding of 156,789 shares valued at approximately $47.1 million. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly earnings of $4.48 per share, exceeding analyst expectations of $4.35, while revenue reached $84.75 billion, up 5.1% year over year. The company also declared a quarterly dividend of $0.60 per share.
• Analysts remain positive, with 14 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $363.81. Cencora shares recently traded at $340.54.

TD Waterhouse Canada Inc. raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 139.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,789 shares of the company's stock after acquiring an additional 91,404 shares during the quarter. TD Waterhouse Canada Inc. owned 0.08% of Cencora worth $47,076,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Elevation Wealth Partners LLC grew its stake in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Cencora in the second quarter valued at about $28,000. Caitlin John LLC acquired a new stake in shares of Cencora in the second quarter valued at about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cencora in the first quarter valued at about $35,000. Finally, Downshift Financial LLC boosted its holdings in Cencora by 3,250.0% during the third quarter. Downshift Financial LLC now owns 134 shares of the company's stock worth $40,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Price Performance

Shares of Cencora stock traded down $0.87 on Friday, hitting $340.54. The company's stock had a trading volume of 1,978,868 shares, compared to its average volume of 1,282,490. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a fifty day moving average price of $320.38 and a 200-day moving average price of $303.34. The company has a market capitalization of $64.99 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.00 EPS. On average, equities research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora's dividend payout ratio is currently 17.83%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Bank of America lifted their price target on shares of Cencora from $285.00 to $310.00 in a research report on Tuesday, July 21st. Robert W. Baird lifted their price target on shares of Cencora from $370.00 to $373.00 and gave the company an "outperform" rating in a research report on Monday, October 12th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Leerink Partners upped their price target on Cencora from $380.00 to $388.00 and gave the stock an "outperform" rating in a report on Wednesday, October 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $363.81.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares of the company's stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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