Elmwood Wealth Management Inc. Sells 754 Shares of Cencora, Inc. (NYSE:COR)

Elmwood Wealth Management Inc. lowered its position in shares of Cencora, Inc. (NYSE:COR) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,649 shares of the company’s stock after selling 754 shares during the period. Elmwood Wealth Management Inc.’s holdings in Cencora were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Boston Mountain Money Management Inc. purchased a new stake in Cencora during the 3rd quarter valued at $263,000. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Cencora by 6.3% during the third quarter. Redhawk Wealth Advisors Inc. now owns 10,444 shares of the company’s stock valued at $2,351,000 after purchasing an additional 618 shares in the last quarter. Ayrshire Capital Management LLC boosted its position in shares of Cencora by 1.5% during the third quarter. Ayrshire Capital Management LLC now owns 24,525 shares of the company’s stock valued at $5,520,000 after buying an additional 374 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Cencora by 41.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,334 shares of the company’s stock worth $1,201,000 after buying an additional 1,568 shares in the last quarter. Finally, Retirement Planning Group LLC purchased a new position in Cencora in the 3rd quarter worth about $251,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COR. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI decreased their target price on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Leerink Partners lowered their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Cencora Stock Performance

Cencora stock traded up $0.94 during trading on Monday, reaching $223.50. The company had a trading volume of 254,953 shares, compared to its average volume of 1,407,337. The firm has a market capitalization of $44.58 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm’s 50-day simple moving average is $232.97 and its 200 day simple moving average is $231.31. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66.

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

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,473 shares of the company’s 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 in the last three months. Company insiders own 15.80% of the company’s stock.

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.