Golden State Equity Partners Lowers Position in Cencora, Inc. (NYSE:COR)

Golden State Equity Partners trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 71.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447 shares of the company’s stock after selling 3,583 shares during the quarter. Golden State Equity Partners’ holdings in Cencora were worth $326,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Cencora during the second quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in shares of Cencora during the 1st quarter worth about $29,000. TFO Wealth Partners LLC acquired a new stake in shares of Cencora during the 1st quarter valued at about $30,000. LRI Investments LLC purchased a new position in shares of Cencora in the 1st quarter valued at about $31,000. Finally, MFA Wealth Advisors LLC acquired a new position in Cencora in the 2nd quarter worth about $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Down 0.6 %

Shares of NYSE COR opened at $228.08 on Friday. The stock has a market cap of $44.94 billion, a PE ratio of 24.76, a P/E/G ratio of 1.40 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66. The company has a 50-day moving average of $231.71 and a 200 day moving average of $230.72.

Cencora (NYSE:COR) last posted its quarterly earnings results 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 analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.92 earnings per share. As a group, sell-side analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on COR shares. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Evercore ISI reduced their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

About Cencora

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.