Apollon Wealth Management LLC Buys 607 Shares of Cencora, Inc. $COR

Apollon Wealth Management LLC raised its stake in shares of Cencora, Inc. (NYSE:COR) by 10.2% in the 2nd quarter, Holdings Channel reports. The firm owned 6,556 shares of the company’s stock after purchasing an additional 607 shares during the quarter. Apollon Wealth Management LLC’s holdings in Cencora were worth $1,966,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of COR. Cornerstone Planning Group LLC raised its position in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Cencora in the 1st quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cencora in the 1st quarter worth about $39,000. Golden State Wealth Management LLC raised its position in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new position in shares of Cencora in the 1st quarter worth about $48,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on COR. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Evercore ISI set a $340.00 price objective on Cencora in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.00.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by company insiders.

Cencora Price Performance

COR stock opened at $317.24 on Tuesday. The company has a market capitalization of $61.51 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a 52-week low of $221.95 and a 52-week high of $319.87. The business has a 50-day simple moving average of $297.46 and a two-hundred day simple moving average of $292.16.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 EPS. Research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is presently 22.63%.

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.