Stratos Wealth Partners LTD. Increases Stock Holdings in Cencora, Inc. $COR

Stratos Wealth Partners LTD. increased its position in Cencora, Inc. (NYSE:COR) by 31.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,028 shares of the company’s stock after acquiring an additional 247 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cencora were worth $308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Voleon Capital Management LP bought a new position in Cencora in the 1st quarter valued at $3,111,000. Focus Partners Wealth raised its position in shares of Cencora by 25.8% in the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock worth $1,589,000 after buying an additional 1,171 shares in the last quarter. Martin Capital Partners LLC boosted its stake in Cencora by 205.2% during the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after buying an additional 2,544 shares during the period. Fiduciary Alliance LLC purchased a new position in Cencora during the second quarter worth about $262,000. Finally, Ascent Group LLC grew its position in Cencora by 42.7% during the first quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock worth $3,500,000 after buying an additional 3,764 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COR. Wells Fargo & Company lifted their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group lifted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Mizuho lifted their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $324.91.

Cencora Price Performance

COR stock opened at $333.02 on Friday. The firm has a market cap of $64.56 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.54 and a beta of 0.63. The firm’s fifty day moving average is $304.09 and its 200 day moving average is $294.87. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $334.34. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. The trade was a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,544 shares of company stock worth $12,230,941 over the last ninety days. Insiders own 10.80% of the company’s stock.

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.