Cencora, Inc. $COR Stake Increased by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its Cencora stake by 235.3% in the third quarter, acquiring 3,043 additional shares and bringing its holdings to 4,336 shares valued at approximately $1.3 million.
• Analysts remain broadly positive on Cencora, with 14 Buy ratings and four Holds; the stock carries a consensus “Moderate Buy” rating and a $363.81 target price.
• Cencora exceeded quarterly earnings and revenue expectations, reporting $4.48 in EPS on $84.75 billion in revenue, while quarterly revenue grew 5.1% year over year. The company also maintains a $0.60 quarterly dividend, equivalent to a 0.7% yield.

Frank Rimerman Advisors LLC grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 235.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,336 shares of the company's stock after buying an additional 3,043 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Cencora were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in COR. Elevation Wealth Partners LLC grew its holdings in 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 acquiring an additional 81 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in Cencora in the 2nd quarter valued at about $28,000. Caitlin John LLC acquired a new stake in Cencora in the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Cencora in the first quarter worth about $35,000. Finally, Downshift Financial LLC raised its stake in shares of Cencora by 3,250.0% in the third quarter. Downshift Financial LLC now owns 134 shares of the company's stock worth $40,000 after acquiring an additional 130 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

COR has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Bank of America increased their price target on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Wells Fargo & Company boosted their price objective 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. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $363.81.

Cencora Stock Performance

COR stock opened at $340.54 on Monday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month 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 company has a market cap 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. The business's fifty day moving average is $320.38 and its 200-day moving average is $303.30.

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

Cencora Dividend Announcement

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

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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