Assetmark Inc. Raises Stock Holdings in Cencora, Inc. $COR

Assetmark Inc. increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 23.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 42,850 shares of the company’s stock after acquiring an additional 8,016 shares during the period. Assetmark Inc.’s holdings in Cencora were worth $13,392,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Cencora in the 3rd quarter worth about $31,000. Vermillion & White Wealth Management Group LLC boosted its position in Cencora by 69.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Westside Investment Management Inc. grew its stake in Cencora by 200.0% in the 3rd quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after acquiring an additional 70 shares in the last quarter. Finally, Copia Wealth Management increased its position in shares of Cencora by 505.0% during the third quarter. Copia Wealth Management now owns 121 shares of the company’s stock worth $38,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the transaction, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the sale, the executive vice president directly owned 23,891 shares in the company, valued at approximately $8,173,111.10. This represents a 12.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 20,316 shares of company stock worth $7,151,265. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 2.7%

NYSE:COR opened at $360.59 on Monday. The stock has a market capitalization of $70.15 billion, a price-to-earnings ratio of 43.34, a PEG ratio of 1.66 and a beta of 0.68. Cencora, Inc. has a 52 week low of $237.71 and a 52 week high of $377.54. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The firm has a 50 day moving average of $347.51 and a 200 day moving average of $328.88.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.73 earnings per share. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Cencora’s dividend payout ratio (DPR) is currently 28.85%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COR. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Robert W. Baird set a $415.00 target price on Cencora in a report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Mizuho lifted their price objective on Cencora from $340.00 to $380.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Barclays increased their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $399.00.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.