Liberty Wealth Management LLC Acquires New Shares in Cencora, Inc. (NYSE:COR)

Key Points

• Liberty Wealth Management LLC has acquired 17,844 shares of Cencora, Inc., valued at approximately $4.96 million, during the first quarter.
• Company insiders, including CEO Robert P. Mauch and Chairman Steven H. Collis, have recently sold shares, decreasing their positions by 10.5% and 4.47%, respectively.
• Cencora's stock has received positive attention from analysts, with target price increases from firms like Citigroup and UBS Group, indicating a consensus rating of "Moderate Buy."

Liberty Wealth Management LLC acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,844 shares of the company's stock, valued at approximately $4,962,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Cencora by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after purchasing an additional 78,066 shares during the period. Bank of America Corp DE raised its holdings in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares during the period. Invesco Ltd. raised its holdings in Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after purchasing an additional 550,246 shares during the period. Northern Trust Corp raised its holdings in Cencora by 11.6% in the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock worth $544,004,000 after purchasing an additional 252,028 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new position in Cencora in the 4th quarter worth $399,508,000. 97.52% of the stock is owned by institutional investors.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The shares were 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 approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on COR. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Jefferies Financial Group raised their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. 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. Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $309.83.

Cencora Trading Up 0.8%

Shares of Cencora stock opened at $288.31 on Friday. The firm has a market cap of $55.88 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.43 and a beta of 0.58. The business has a 50-day moving average price of $292.97 and a 200-day moving average price of $276.29. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued 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. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.80 earnings per share. Equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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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