Modern Wealth Management LLC Grows Position in Cencora, Inc. $COR

Modern Wealth Management LLC increased its position in shares of Cencora, Inc. (NYSE:COR) by 16.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,039 shares of the company’s stock after buying an additional 149 shares during the quarter. Modern Wealth Management LLC’s holdings in Cencora were worth $289,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC purchased a new position in Cencora during the 1st quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Cencora during the 4th quarter worth approximately $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Cencora during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on COR shares. 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. Jefferies Financial Group increased their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company increased their price objective on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.25.

Cencora Stock Performance

Shares of COR stock opened at $292.33 on Tuesday. The stock has a fifty day moving average price of $293.04 and a 200 day moving average price of $286.27. The stock has a market cap of $56.68 billion, a PE ratio of 30.08, a P/E/G ratio of 1.44 and a beta of 0.62. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. 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 released 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. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company’s stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $9,993,789 in the last three months. 10.80% of the stock is currently owned by company insiders.

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.