Strategic Wealth Partners Ltd. Acquires 624 Shares of Cencora, Inc. (NYSE:COR)

Strategic Wealth Partners Ltd. increased its stake in Cencora, Inc. (NYSE:COR) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,657 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Cencora were worth $5,325,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC purchased a new stake in Cencora in the second quarter worth about $655,000. TD Asset Management Inc bought a new position in shares of Cencora during the 1st quarter valued at approximately $95,313,000. LSV Asset Management purchased a new stake in Cencora in the 1st quarter worth approximately $3,579,000. Cairn Investment Group Inc. bought a new stake in Cencora during the 1st quarter worth approximately $2,294,000. Finally, Lake Street Advisors Group LLC purchased a new position in Cencora during the first quarter valued at approximately $836,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COR has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Finally, Bank of America reissued a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.44.

Insider Activity at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of the firm’s 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 directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Silvana Battaglia sold 1,473 shares of the company’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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. Insiders own 15.80% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $220.80 on Wednesday. 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 $182.62 and a 1-year high of $247.66. The business has a 50 day simple moving average of $234.25 and a two-hundred day simple moving average of $231.76. The stock has a market capitalization of $44.04 billion, a PE ratio of 24.16, a P/E/G ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $2.92 earnings per share. On average, research analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

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.