Purkiss Capital Advisors LLC Takes $328,000 Position in Cencora, Inc. $COR

Purkiss Capital Advisors LLC bought a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, HoldingsChannel.com reports. The fund bought 1,094 shares of the company’s stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC boosted its position in Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the period. Costello Asset Management INC acquired a new position in shares of Cencora during the first quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora during the first quarter valued at $39,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after acquiring an additional 104 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on COR. Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 price target on Cencora in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.00.

Insider Transactions at Cencora

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

Cencora Price Performance

Shares of NYSE COR opened at $336.00 on Tuesday. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $336.07. The company has a market capitalization of $65.14 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.55 and a beta of 0.63. The firm has a 50-day moving average of $305.00 and a two-hundred day moving average of $295.60. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating 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 analyst estimates of $80.34 billion. During the same period in the prior year, the business earned $3.34 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

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.