Cencora, Inc. (NYSE:COR) Position Boosted by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. lifted its stake in Cencora, Inc. (NYSE:COR) by 6.7% in the third quarter, Holdings Channel.com reports. The firm owned 989 shares of the company’s stock after acquiring an additional 62 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Cencora were worth $223,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Kingswood Wealth Advisors LLC purchased a new stake in Cencora in the 2nd quarter worth approximately $655,000. TD Asset Management Inc purchased a new stake in shares of Cencora during the first quarter worth $95,313,000. LSV Asset Management acquired a new stake in Cencora during the first quarter valued at $3,579,000. Lake Street Advisors Group LLC purchased a new position in Cencora in the first quarter valued at about $836,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Cencora in the first quarter valued at about $15,632,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 2.7 %

COR opened at $234.27 on Friday. The business has a 50 day moving average of $231.39 and a 200-day moving average of $230.71. The stock has a market capitalization of $46.16 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 1.46 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 1-year low of $184.00 and a 1-year high of $247.66.

Cencora (NYSE:COR) last issued its quarterly 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 the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.92 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.64 earnings per share for the current year.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

COR has been the subject of a number of recent research reports. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Bank of America reiterated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners cut their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Evercore ISI reduced their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

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.