Cencora, Inc. $COR Shares Bought by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its stake in Cencora, Inc. by 25.8%, owning 5,715 shares valued at approximately $1.59 million as of its latest SEC filing.
• In the first quarter, several institutional investors significantly boosted their holdings in Cencora, with GAMMA Investing LLC increasing its stake by 43,561.9%, now owning around 1.6 million shares valued at $444.5 million.
• Cencora reported a quarterly earnings per share of $4.00 for the last quarter, surpassing analysts' expectations, with year-over-year revenue growth of 8.7%.

Focus Partners Wealth grew its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,715 shares of the company's stock after buying an additional 1,171 shares during the period. Focus Partners Wealth's holdings in Cencora were worth $1,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in COR. Cornerstone Planning Group LLC lifted its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Cencora during the 1st quarter valued at about $28,000. Costello Asset Management INC bought a new position in Cencora during the 1st quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Cencora during the 4th quarter worth approximately $38,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Cencora during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cencora Stock Down 0.0%

Shares of COR traded down $0.14 during midday trading on Friday, hitting $290.70. 756,527 shares of the company's stock traded hands, compared to its average volume of 1,550,164. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm's fifty day moving average is $292.52 and its 200-day moving average is $286.56. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $56.36 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,475 shares of company stock valued at $19,080,900 in the last 90 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.