Denali Advisors LLC Boosts Holdings in Cencora, Inc. (NYSE:COR)

Denali Advisors LLC boosted its position in shares of Cencora, Inc. (NYSE:COR) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,700 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Denali Advisors LLC’s holdings in Cencora were worth $383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Advocates Investment Management grew its holdings in shares of Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares in the last quarter. Barlow Wealth Partners Inc. boosted its position in shares of Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after buying an additional 68 shares during the last quarter. Finally, Tevis Investment Management boosted its position in shares of Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock valued at $333,000 after buying an additional 69 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. Company insiders own 15.80% of the company’s stock.

Cencora Trading Down 2.8 %

Shares of COR stock opened at $234.53 on Wednesday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The company has a market cap of $46.78 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 1 year low of $177.00 and a 1 year high of $247.66. The firm has a fifty day moving average price of $234.52 and a 200-day moving average price of $233.26.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the business earned $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Finally, Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.13.

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.