Optimum Investment Advisors Invests $75,000 in Cencora, Inc. $COR

Optimum Investment Advisors bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 250 shares of the company’s stock, valued at approximately $75,000.

Other large investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC grew its position in shares of Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cornerstone Planning Group LLC boosted its position in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Costello Asset Management INC acquired a new stake in Cencora in the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the first quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $333.02 on Friday. The company’s 50-day moving average is $304.09 and its two-hundred day moving average is $295.02. Cencora, Inc. has a 1-year low of $223.92 and a 1-year high of $334.34. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market capitalization of $64.56 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.55 and a beta of 0.63.

Cencora (NYSE:COR) last released 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 firm had revenue of $80.66 billion for 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 business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares of the company’s stock, valued at $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,544 shares of company stock worth $12,230,941. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on COR shares. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Wall Street Zen cut Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Mizuho raised their price objective on Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.91.

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.