EverSource Wealth Advisors LLC Takes Position in Cencora, Inc. (NYSE:COR)

EverSource Wealth Advisors LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,361 shares of the company’s stock, valued at approximately $325,000.

Several other institutional investors have also recently modified their holdings of COR. Railway Pension Investments Ltd bought a new position in Cencora during the 1st quarter worth approximately $60,900,000. DekaBank Deutsche Girozentrale bought a new position in Cencora during the 1st quarter worth approximately $128,825,000. Aurora Investment Counsel bought a new position in Cencora during the 1st quarter worth approximately $1,635,000. Clean Yield Group bought a new position in Cencora during the 1st quarter worth approximately $121,000. Finally, Boston Partners bought a new position in Cencora during the 1st quarter worth approximately $1,001,269,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Up 1.3 %

Shares of COR traded up $3.11 on Friday, reaching $247.57. The stock had a trading volume of 3,292,432 shares, compared to its average volume of 1,217,035. The company has a 50-day simple moving average of $228.85 and a 200-day simple moving average of $231.27. The firm has a market capitalization of $49.38 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. Cencora, Inc. has a 12-month low of $171.65 and a 12-month 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.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The business 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 quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 earnings per share. Sell-side analysts predict that Cencora, Inc. will post 13.56 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, August 9th. Cencora’s payout ratio is 22.32%.

Insider Buying and Selling at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,899,112 shares of company stock worth $408,654,376. 15.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COR. Citigroup raised their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. SVB Leerink reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Robert W. Baird lifted their price objective on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.63.

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.