Transcend Capital Advisors LLC Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

Transcend Capital Advisors LLC lifted its holdings in Cencora, Inc. (NYSE:COR) by 12.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,855 shares of the company’s stock after buying an additional 1,726 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Cencora were worth $3,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of COR. Rise Advisors LLC purchased a new position in Cencora during the first quarter worth about $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora in the first quarter valued at approximately $27,000. TCTC Holdings LLC acquired a new stake in Cencora during the first quarter worth approximately $29,000. TFO Wealth Partners LLC acquired a new stake in Cencora during the first quarter worth approximately $30,000. Finally, LRI Investments LLC acquired a new stake in Cencora during the first quarter worth approximately $31,000. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 1.3 %

Cencora stock traded up $3.11 during midday trading on Friday, reaching $247.57. The stock had a trading volume of 3,292,432 shares, compared to its average volume of 1,217,035. The firm’s fifty day simple moving average is $228.85 and its two-hundred day simple moving average is $231.27. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53. The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 EPS. Equities analysts anticipate that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.82%. Cencora’s payout ratio is presently 22.32%.

Analyst Ratings Changes

A number of brokerages have recently commented on COR. SVB Leerink reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Robert W. Baird upped their target price on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $249.63.

Insiders Place Their Bets

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dermot Mark Durcan purchased 500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold 1,899,112 shares of company stock worth $408,654,376 in the last ninety days. Insiders own 15.80% of the company’s stock.

Cencora Company 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.