IFP Advisors Inc Purchases 14,078 Shares of Cencora, Inc. $COR

Key Points

• IFP Advisors increased its Cencora stake by 227.6% in the third quarter, purchasing 14,078 additional shares for a total holding of 20,264 shares valued at approximately $6.08 million.
• Analysts remain broadly positive, with 14 Buy ratings and four Holds, resulting in a “Moderate Buy” consensus and an average price target of $363.81 versus the reported share price of $340.54.
• Cencora exceeded quarterly expectations, reporting $4.48 in earnings per share and $84.75 billion in revenue, while revenue increased 5.1% year over year. The company also paid a quarterly dividend of $0.60 per share, representing a 0.7% yield.

IFP Advisors Inc raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 227.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,264 shares of the company's stock after acquiring an additional 14,078 shares during the quarter. IFP Advisors Inc's holdings in Cencora were worth $6,084,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased 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 last quarter. Bell Investment Advisors Inc bought a new position in shares of Cencora during the 2nd quarter valued at $28,000. Caitlin John LLC acquired a new stake in shares of Cencora in the 2nd quarter valued at $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Cencora in the 1st quarter valued at $35,000. Finally, Downshift Financial LLC lifted its stake in shares of Cencora by 3,250.0% in the 3rd quarter. Downshift Financial LLC now owns 134 shares of the company's stock valued at $40,000 after purchasing an additional 130 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a $330.00 target price on shares of Cencora in a research report on Tuesday, September 8th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Argus reduced their price target on Cencora to $340.00 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price target on Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Robert W. Baird increased their price objective on Cencora from $370.00 to $373.00 and gave the company an "outperform" rating in a report on Monday, October 12th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $363.81.

Cencora Stock Performance

Shares of COR opened at $340.54 on Monday. The company has a market capitalization of $64.99 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company's fifty day moving average price is $320.38 and its 200 day moving average price is $303.30.

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

Cencora Dividend Announcement

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

About Cencora

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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