Independence Wealth Advisors LLC Invests $605,000 in Cencora, Inc. $COR

Independence Wealth Advisors LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,793 shares of the company’s stock, valued at approximately $605,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC acquired a new stake in Cencora during the 4th quarter worth approximately $214,000. Fulton Bank N.A. increased its holdings in shares of Cencora by 31.1% in the fourth quarter. Fulton Bank N.A. now owns 5,441 shares of the company’s stock valued at $1,838,000 after purchasing an additional 1,290 shares during the period. Nordea Investment Management AB raised its stake in shares of Cencora by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 1,256,356 shares of the company’s stock worth $426,715,000 after purchasing an additional 45,712 shares during the last quarter. Occidental Asset Management LLC raised its stake in shares of Cencora by 1.7% during the fourth quarter. Occidental Asset Management LLC now owns 19,072 shares of the company’s stock worth $6,442,000 after purchasing an additional 313 shares during the last quarter. Finally, Procyon Advisors LLC lifted its holdings in shares of Cencora by 19.5% during the fourth quarter. Procyon Advisors LLC now owns 2,158 shares of the company’s stock worth $729,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird set a $415.00 price objective on shares of Cencora in a research note on Tuesday, January 13th. Jefferies Financial Group upgraded shares of Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Bank of America lowered their target price on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, Evercore reissued an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $403.17.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the sale, the chief executive officer directly owned 66,726 shares in the company, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $327.96 on Monday. 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 one year low of $265.59 and a one year high of $377.54. The firm has a market capitalization of $63.80 billion, a P/E ratio of 39.42, a PEG ratio of 1.52 and a beta of 0.68. The company’s fifty day moving average is $354.93 and its two-hundred day moving average is $340.24.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business 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 posted $3.73 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

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.