TriaGen Wealth Management LLC Decreases Stock Position in Cencora, Inc. $COR

TriaGen Wealth Management LLC trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,482 shares of the company’s stock after selling 351 shares during the period. TriaGen Wealth Management LLC’s holdings in Cencora were worth $2,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in COR. Voleon Capital Management LP acquired a new stake in shares of Cencora during the first quarter valued at about $3,111,000. Exchange Traded Concepts LLC boosted its holdings in Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after purchasing an additional 48 shares during the last quarter. Focus Partners Wealth grew its stake in Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after purchasing an additional 1,171 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in Cencora during the 2nd quarter worth approximately $262,000. Finally, Ascent Group LLC raised its position in shares of Cencora by 42.7% in the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock valued at $3,500,000 after purchasing an additional 3,764 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 over the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Stock Up 0.8%

COR stock opened at $305.32 on Tuesday. The firm has a market cap of $59.20 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.41 and a beta of 0.63. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $315.23. The firm has a fifty day moving average price of $295.07 and a two-hundred day moving average price of $290.68. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 EPS. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio is 22.63%.

Analyst Ratings Changes

A number of analysts have recently weighed in on COR shares. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $314.55.

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.