Net Worth Advisory Group Makes New Investment in Cencora, Inc. (NYSE:COR)

Net Worth Advisory Group bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,603 shares of the company’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aaron Wealth Advisors LLC raised its stake in Cencora by 85.9% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $381,000 after purchasing an additional 783 shares during the last quarter. M3 Advisory Group LLC raised its position in shares of Cencora by 9.5% in the third quarter. M3 Advisory Group LLC now owns 1,828 shares of the company’s stock valued at $412,000 after buying an additional 158 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of Cencora by 851.0% in the third quarter. Claro Advisors LLC now owns 11,888 shares of the company’s stock worth $2,676,000 after buying an additional 10,638 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Cencora by 3.8% during the third quarter. V Square Quantitative Management LLC now owns 3,634 shares of the company’s stock worth $818,000 after acquiring an additional 132 shares during the last quarter. Finally, CHB Investment Group LLC purchased a new stake in Cencora during the 3rd quarter valued at about $2,548,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective 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. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average target price of $259.44.

Cencora Trading Up 0.8 %

COR opened at $237.43 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. The business’s 50 day moving average is $232.38 and its two-hundred day moving average is $231.06. The firm has a market cap of $47.36 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $2.92 EPS. On average, research analysts predict that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s payout ratio is 22.32%.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

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.