Journey Strategic Wealth LLC Purchases Shares of 875 Cencora, Inc. (NYSE:COR)

Key Points

• Journey Strategic Wealth LLC acquired 875 shares of Cencora, Inc. (NYSE: COR), valued at approximately $243,000, in the first quarter.
• Cencora recently reported $4.42 earnings per share for the quarter, surpassing analysts' expectations, with revenue increasing by 10.3% year-over-year.
• Analysts have raised price targets for Cencora, with some upgrades reflecting a transition from "hold" to "buy" ratings, indicating strong market confidence in the company's performance.

Journey Strategic Wealth LLC acquired a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 875 shares of the company's stock, valued at approximately $243,000.

Several other hedge funds also recently added to or reduced their stakes in COR. Cornerstone Planning Group LLC raised its stake in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA acquired a new stake in shares of Cencora during the 4th quarter worth about $29,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora during the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC raised its position in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR traded up $3.67 during trading on Tuesday, reaching $289.87. The company's stock had a trading volume of 234,335 shares, compared to its average volume of 1,577,534. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company's fifty day moving average price is $293.19 and its 200-day moving average price is $275.13. The company has a market capitalization of $56.18 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. Cencora's payout ratio is 25.52%.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman owned 309,913 shares of the company's stock, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock valued at $9,993,789. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COR shares. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $309.83.

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.