Tower Wealth Partners Inc. Makes New Investment in Cencora, Inc. (NYSE:COR)

Tower Wealth Partners Inc. acquired a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 927 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Vanguard Group Inc. acquired a new stake in Cencora in the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora during the first quarter valued at $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora during the first quarter valued at $1,199,695,000. Boston Partners acquired a new stake in shares of Cencora in the first quarter valued at about $1,001,269,000. Finally, Capital Research Global Investors purchased a new stake in shares of Cencora during the first quarter worth about $650,424,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value 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. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last quarter. 15.80% of the stock is owned by insiders.

Analyst Ratings Changes

COR has been the topic of a number of research reports. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Robert W. Baird decreased their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $258.13.

Cencora Stock Up 0.6 %

NYSE COR opened at $241.24 on Tuesday. The business’s fifty day simple moving average is $234.28 and its 200-day simple moving average is $233.28. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a market cap of $48.12 billion, a PE ratio of 26.39, a P/E/G ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 52 week low of $177.00 and a 52 week high of $247.66.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm earned $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.85%. Cencora’s payout ratio is 22.32%.

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.