HB Wealth Management LLC Purchases 1,049 Shares of Cencora, Inc. (NYSE:COR)

HB Wealth Management LLC raised its position in Cencora, Inc. (NYSE:COR) by 32.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,262 shares of the company’s stock after acquiring an additional 1,049 shares during the period. HB Wealth Management LLC’s holdings in Cencora were worth $960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Rise Advisors LLC acquired a new position in Cencora during the 1st quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora during the first quarter worth about $27,000. New Millennium Group LLC acquired a new position in Cencora in the 2nd quarter worth approximately $26,000. TCTC Holdings LLC purchased a new position in Cencora during the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the 1st quarter valued at $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of COR stock traded up $0.57 on Thursday, reaching $237.02. 127,582 shares of the company were exchanged, compared to its average volume of 1,357,740. Cencora, Inc. has a 1 year low of $171.65 and a 1 year high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The business has a 50-day moving average price of $231.76 and a 200 day moving average price of $232.83. The company has a market cap of $47.27 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last issued its quarterly 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 firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.92 earnings per share. Equities research analysts forecast that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is presently 22.32%.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird upped their price objective on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $258.63.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold 4,452,273 shares of company stock valued at $1,070,812,312 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Cencora 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.