AXQ Capital LP Takes $850,000 Position in Cencora, Inc. $COR

AXQ Capital LP purchased a new stake in Cencora, Inc. (NYSE:COR) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,721 shares of the company’s stock, valued at approximately $850,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Compound Planning Inc. increased its stake in shares of Cencora by 12.0% during the third quarter. Compound Planning Inc. now owns 1,175 shares of the company’s stock worth $367,000 after purchasing an additional 126 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Cencora by 9.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,391 shares of the company’s stock worth $435,000 after buying an additional 125 shares in the last quarter. Trajan Wealth LLC raised its holdings in shares of Cencora by 10.0% during the third quarter. Trajan Wealth LLC now owns 135,306 shares of the company’s stock valued at $42,287,000 after acquiring an additional 12,346 shares during the last quarter. Verus Capital Partners LLC raised its holdings in shares of Cencora by 16.2% during the third quarter. Verus Capital Partners LLC now owns 802 shares of the company’s stock valued at $251,000 after acquiring an additional 112 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of Cencora by 1.6% in the third quarter. Clearstead Advisors LLC now owns 3,845 shares of the company’s stock valued at $1,202,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 5,096 shares of the firm’s 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 owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,677 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $345.00, for a total transaction of $578,565.00. Following the sale, the executive vice president directly owned 18,796 shares in the company, valued at approximately $6,484,620. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,220 shares of company stock worth $5,282,867 in the last three months. 0.38% of the stock is owned by company insiders.

Cencora Price Performance

Cencora stock opened at $365.97 on Tuesday. The company’s 50 day simple moving average is $349.72 and its 200-day simple moving average is $332.01. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a 1 year low of $241.48 and a 1 year high of $377.54. The company has a market capitalization of $71.19 billion, a price-to-earnings ratio of 43.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.68.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is presently 28.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group increased their price objective on Cencora from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, November 7th. TD Cowen increased their target price on shares of Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Jefferies Financial Group raised shares of Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Finally, Bank of America cut their price objective on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a report on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $399.00.

Cencora 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.