Independence Wealth Advisors LLC Takes Position in Cencora, Inc. $COR

Independence Wealth Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,793 shares of the company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vestcor Inc grew its stake in shares of Cencora by 0.5% in the 3rd quarter. Vestcor Inc now owns 5,196 shares of the company’s stock valued at $1,624,000 after buying an additional 28 shares during the period. Cornerstone Wealth Group LLC increased its holdings in shares of Cencora by 1.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company’s stock worth $745,000 after buying an additional 30 shares during the last quarter. Security Financial Services INC. raised its position in shares of Cencora by 2.6% during the 3rd quarter. Security Financial Services INC. now owns 1,325 shares of the company’s stock valued at $414,000 after buying an additional 33 shares during the period. Vermillion & White Wealth Management Group LLC raised its position in shares of Cencora by 31.4% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $43,000 after buying an additional 33 shares during the period. Finally, Hemington Wealth Management lifted its holdings in Cencora by 12.0% in the third quarter. Hemington Wealth Management now owns 327 shares of the company’s stock valued at $102,000 after acquiring an additional 35 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Trading Down 1.1%

COR opened at $327.96 on Monday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a one year low of $265.59 and a one year high of $377.54. The company has a market cap of $63.80 billion, a P/E ratio of 39.42, a PEG ratio of 1.52 and a beta of 0.68. The business’s 50-day simple moving average is $354.93 and its 200-day simple moving average is $340.24.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. During the same period in the previous year, the company earned $3.73 earnings per share. Cencora’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is 28.85%.

Analysts Set New Price Targets

COR has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Leerink Partners reissued an “outperform” rating on shares of Cencora in a research note on Tuesday, March 17th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $403.17.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.