Farther Finance Advisors LLC Acquires 2,337 Shares of Cencora, Inc. $COR

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Cencora, Inc. by 107.4%, acquiring an additional 2,337 shares during the second quarter, bringing its total holdings to 4,512 shares valued at over $1.35 million.
• Several institutional investors also boosted their stakes in Cencora, contributing to 97.52% of the stock being owned by hedge funds and other institutional investors.
• Analysts have varied price targets for Cencora's shares, with estimates ranging from $300.00 to $354.00, and the stock holding a consensus rating of "Moderate Buy" with an average price target of $311.25.

Farther Finance Advisors LLC boosted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 107.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,512 shares of the company's stock after buying an additional 2,337 shares during the quarter. Farther Finance Advisors LLC's holdings in Cencora were worth $1,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Net Worth Advisory Group boosted its stake in Cencora by 1.4% during the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after buying an additional 36 shares during the period. Obermeyer Wealth Partners boosted its stake in Cencora by 1.3% during 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. Grove Bank & Trust boosted its stake in Cencora by 4.3% during the second quarter. Grove Bank & Trust now owns 879 shares of the company's stock worth $264,000 after buying an additional 36 shares during the period. Cromwell Holdings LLC boosted its stake in Cencora by 9.5% during the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after buying an additional 39 shares during the period. Finally, Contravisory Investment Management Inc. boosted its stake in Cencora by 0.7% during the second quarter. Contravisory Investment Management Inc. now owns 5,382 shares of the company's stock worth $1,614,000 after buying an additional 40 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,993 shares of company stock worth $16,292,923. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of Cencora stock opened at $301.95 on Wednesday. The company has a market capitalization of $58.54 billion, a PE ratio of 31.06, a P/E/G ratio of 1.47 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a 50-day simple moving average of $292.41 and a two-hundred day simple moving average of $287.63. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.34 earnings per share. Research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders 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 dividend yield of 0.7%. Cencora's dividend payout ratio is 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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