Oppenheimer Asset Management Inc. Cuts Holdings in Cencora, Inc. $COR

Oppenheimer Asset Management Inc. cut its position in shares of Cencora, Inc. (NYSE:COR) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,352 shares of the company’s stock after selling 529 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cencora were worth $7,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Cencora by 70.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in Cencora by 106.7% in the first 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. Costello Asset Management INC purchased a new position in Cencora in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in Cencora in the first quarter worth $39,000. Finally, Golden State Wealth Management LLC boosted its position in Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 104 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the sale, the chief executive officer directly owned 37,940 shares in the company, valued at $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 41,544 shares of company stock worth $12,230,941. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Jefferies Financial Group boosted 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. Wells Fargo & Company boosted 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. Mizuho boosted their price target 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, Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $329.00.

Cencora Trading Up 1.0%

Shares of COR opened at $336.00 on Tuesday. The business’s 50-day moving average price is $305.00 and its 200-day moving average price is $295.60. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $336.07. The stock has a market cap of $65.14 billion, a PE ratio of 34.57, a P/E/G ratio of 1.55 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 results 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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the prior year, the business posted $3.34 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

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.