Heritage Oak Wealth Advisors LLC Buys New Shares in Cencora, Inc. (NYSE:COR)

Heritage Oak Wealth Advisors LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,244 shares of the company’s stock, valued at approximately $731,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Advocates Investment Management increased its holdings in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after purchasing an additional 51 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Cencora by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock worth $258,000 after purchasing an additional 52 shares during the last quarter. Finally, Barlow Wealth Partners Inc. increased its holdings in shares of Cencora by 5.4% in the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock worth $303,000 after purchasing an additional 68 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on COR. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.67.

Cencora Trading Up 0.1 %

COR stock opened at $225.06 on Tuesday. The company’s 50-day simple moving average is $234.96 and its 200-day simple moving average is $232.69. 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 52-week low of $178.21 and a 52-week high of $247.66. The firm has a market cap of $44.89 billion, a P/E ratio of 24.62, a PEG ratio of 1.58 and a beta of 0.44.

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

Cencora Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora 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 sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora 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 sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

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.