Cencora, Inc. (NYSE:COR) Position Raised by Avior Wealth Management LLC

Avior Wealth Management LLC raised its position in shares of Cencora, Inc. (NYSE:COR) by 66.5% in the third quarter, HoldingsChannel.com reports. The firm owned 6,004 shares of the company’s stock after buying an additional 2,398 shares during the period. Avior Wealth Management LLC’s holdings in Cencora were worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new position in shares of Cencora during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in Cencora in the 1st quarter valued at $31,000. MFA Wealth Advisors LLC bought a new position in Cencora in the 2nd quarter worth $30,000. Concord Wealth Partners acquired a new position in Cencora during the 3rd quarter worth $30,000. Finally, SYSTM Wealth Solutions LLC acquired a new stake in shares of Cencora in the second quarter valued at about $36,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners cut their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased 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. Finally, Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Performance

NYSE COR opened at $243.20 on Thursday. The firm has a market cap of $47.92 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.60 and a beta of 0.44. The business’s 50-day moving average price is $232.82 and its 200 day moving average price is $231.29. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Cencora’s payout ratio is currently 29.29%.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was 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 directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.80% of the stock is currently owned by company insiders.

Cencora 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.