Cencora, Inc. $COR Shares Acquired by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft significantly increased its holdings in Cencora, Inc. by 318.5% during the second quarter, bringing its total shares to 4,336, valued at approximately $1.3 million.
• Analysts have a consensus rating of "Moderate Buy" for Cencora, with a consensus target price of $311.25, following several price target adjustments from firms including Wells Fargo and Morgan Stanley.
• Cencora recently reported earnings with an EPS of $4.00, exceeding estimates and reflecting an 8.7% increase in revenue compared to the same quarter last year.

Baader Bank Aktiengesellschaft increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 318.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,336 shares of the company's stock after acquiring an additional 3,300 shares during the period. Baader Bank Aktiengesellschaft's holdings in Cencora were worth $1,300,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Net Worth Advisory Group raised its holdings in shares of Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after acquiring an additional 36 shares during the last quarter. Obermeyer Wealth Partners boosted its position in shares of Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after buying an additional 36 shares during the period. Cromwell Holdings LLC boosted its holdings in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after purchasing an additional 39 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in Cencora by 2.5% during the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock valued at $538,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Ratings Changes

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

Cencora Trading Down 0.4%

Shares of NYSE COR opened at $288.82 on Thursday. The company's 50 day simple moving average is $292.65 and its 200 day simple moving average is $286.31. 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 $56.00 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.38 and a beta of 0.62. 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 (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The company 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 revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.34 EPS. On average, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

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.

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.