Concurrent Investment Advisors LLC Acquires 767 Shares of Cencora, Inc. $COR

Concurrent Investment Advisors LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,421 shares of the company’s stock after purchasing an additional 767 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cencora were worth $2,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Obermeyer Wealth Partners increased its holdings in shares of Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock worth $758,000 after purchasing an additional 36 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Cencora by 4.3% in the second quarter. Grove Bank & Trust now owns 879 shares of the company’s stock worth $264,000 after acquiring an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Cencora by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company’s stock worth $2,563,000 after acquiring an additional 38 shares during the period. Monument Capital Management grew its holdings in shares of Cencora by 2.4% in the second quarter. Monument Capital Management now owns 1,637 shares of the company’s stock worth $491,000 after acquiring an additional 38 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in shares of Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock worth $125,000 after acquiring an additional 39 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of Cencora stock opened at $317.24 on Tuesday. The stock’s 50-day simple moving average is $297.46 and its 200-day simple moving average is $292.16. Cencora, Inc. has a 52 week low of $221.95 and a 52 week high of $319.87. The company has a market capitalization of $61.51 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 1.49 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.34 earnings per share. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is currently 22.63%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a report on Saturday. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $320.00.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock worth $16,292,923 over the last quarter. 10.80% of the stock is owned by company insiders.

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.