National Wealth Management Group LLC Makes New $483,000 Investment in Cencora, Inc. $COR

Key Points

• National Wealth Management Group LLC has acquired a new stake in Cencora, Inc., purchasing 1,737 shares valued at approximately $483,000 in the first quarter.
• Wall Street analysts are optimistic about Cencora, with multiple firms raising their price targets; Robert W. Baird increased their target from $314 to $350, maintaining an “outperform” rating.
• Cencora reported a quarterly earnings per share of $4.00, exceeding estimates, with revenue of $80.66 billion for the period, reflecting an 8.7% increase year-over-year.

National Wealth Management Group LLC bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,737 shares of the company's stock, valued at approximately $483,000.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised 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 during the last quarter. Hoey Investments Inc. bought a new position in Cencora during the 1st quarter worth approximately $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. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is currently owned by insiders.

Cencora Trading Down 0.1%

Shares of NYSE:COR traded down $0.18 during mid-day trading on Friday, hitting $292.52. The company had a trading volume of 1,012,863 shares, compared to its average volume of 1,270,992. The firm has a fifty day moving average price of $292.84 and a 200 day moving average price of $284.16. The company has a market capitalization of $56.71 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

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

Cencora Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on COR. Jefferies Financial Group raised their price target on shares of 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 price target on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora 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.