Oppenheimer Asset Management Inc. Raises Stock Position in Cencora, Inc. (NYSE:COR)

Oppenheimer Asset Management Inc. raised its holdings in Cencora, Inc. (NYSE:COR) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,452 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cencora were worth $6,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Cencora in the first quarter worth about $25,000. New Millennium Group LLC purchased a new stake in Cencora in the 2nd quarter worth approximately $26,000. Legacy Bridge LLC purchased a new stake in Cencora in the 1st quarter worth approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cencora during the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC purchased a new position in shares of Cencora during the 1st quarter valued at approximately $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In related news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 in the last ninety days. Insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on COR shares. JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Leerink Partners restated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $258.13.

Cencora Stock Performance

Shares of NYSE:COR opened at $239.88 on Monday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora, Inc. has a 1 year low of $175.50 and a 1 year high of $247.66. The firm has a market capitalization of $47.84 billion, a PE ratio of 26.25, a P/E/G ratio of 1.55 and a beta of 0.44. The business’s 50 day moving average price is $233.92 and its 200-day moving average price is $233.24.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.92 EPS. As a group, equities research analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.