Institute for Wealth Management LLC. Has $2.78 Million Stock Position in Cencora, Inc. $COR

Key Points

• Institute for Wealth Management LLC increased its stake in Cencora by 900.2%, buying 7,418 shares to hold 8,242 shares worth approximately $2.78 million at the end of the quarter.
• Cencora reported $4.08 EPS versus a $4.04 estimate and revenue of $85.93 billion (slightly below estimates) with revenue up 5.5% year-over-year; the stock trades with a market cap of about $63.7 billion and a PE of 39.37.
• Several analysts raised targets (Barclays to $425, Wells Fargo to $429), and the consensus rating is a Moderate Buy with an average price target of $398.17.

Institute for Wealth Management LLC. grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 900.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,242 shares of the company's stock after buying an additional 7,418 shares during the quarter. Institute for Wealth Management LLC.'s holdings in Cencora were worth $2,784,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in shares of Cencora during the third quarter valued at about $30,000. Cloud Capital Management LLC acquired a new position in shares of Cencora during the third quarter valued at about $31,000. Caitlin John LLC acquired a new position in shares of Cencora during the third quarter valued at about $31,000. Optima Capital LLC acquired a new position in shares of Cencora during the fourth quarter valued at about $31,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company's stock valued at $33,000 after buying an additional 70 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.6%

Cencora stock opened at $327.52 on Friday. The stock has a market cap of $63.71 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.50 and a beta of 0.72. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a fifty-two week low of $271.00 and a fifty-two week high of $377.54. The firm's 50-day simple moving average is $342.14 and its 200 day simple moving average is $343.09.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. The business had revenue of $85.93 billion for the quarter, compared to analyst estimates of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.73 earnings per share. Research analysts predict 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 Monday, March 2nd. Shareholders of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora's payout ratio is currently 28.85%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Morgan Stanley set a $380.00 price target on shares of Cencora in a report on Tuesday, March 17th. Evercore set a $360.00 price target on shares of Cencora in a report on Wednesday, April 8th. Weiss Ratings upgraded shares of Cencora from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company boosted their price target on shares of Cencora from $405.00 to $429.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average price target of $398.17.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company's stock, valued at approximately $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company's stock.

Cencora Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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