Emerald Advisers LLC Purchases New Shares in Cencora, Inc. $COR

Emerald Advisers LLC acquired a new position in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,093 shares of the company’s stock, valued at approximately $628,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Cencora by 70.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Cencora during the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cencora during the first quarter worth $39,000. Finally, Golden State Wealth Management LLC boosted its position in Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares in the company, valued at approximately $12,398,792. The trade was a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,544 shares of company stock valued at $12,230,941 over the last quarter. 10.80% of the stock is owned by company insiders.

Cencora Trading Down 0.7%

Shares of COR opened at $333.20 on Thursday. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $338.22. The business has a 50-day moving average of $306.43 and a 200 day moving average of $296.34. The firm has a market cap of $64.60 billion, a P/E ratio of 34.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The firm 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 quarter last year, the business earned $3.34 earnings per share. As a group, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COR. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Evercore ISI set a $340.00 price objective on shares of Cencora in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $329.00.

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.