Smith Group Asset Management LLC Has $637,000 Position in Cencora, Inc. (NYSE:COR)

Smith Group Asset Management LLC raised its stake in Cencora, Inc. (NYSE:COR) by 20.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,830 shares of the company’s stock after purchasing an additional 480 shares during the period. Smith Group Asset Management LLC’s holdings in Cencora were worth $637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COR. New Millennium Group LLC acquired a new position in shares of Cencora in the second quarter valued at $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the first quarter valued at about $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter valued at about $30,000. MFA Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter valued at about $30,000. Finally, Concord Wealth Partners acquired a new position in shares of Cencora in the third quarter valued at about $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners decreased their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Evercore ISI decreased their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,461,153 shares of company stock valued at $1,073,075,720. 15.80% of the stock is currently owned by insiders.

Cencora Trading Down 0.4 %

Shares of Cencora stock opened at $233.61 on Tuesday. The company has a market capitalization of $46.59 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.40 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66. The firm’s 50-day moving average price is $232.15 and its two-hundred day moving average price is $230.76.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.92 earnings per share. On average, analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.