Oppenheimer Asset Management Inc. Has $7.60 Million Stock Holdings in Cencora, Inc. $COR

Oppenheimer Asset Management Inc. lessened its position in shares of Cencora, Inc. (NYSE:COR) by 2.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,352 shares of the company’s stock after selling 529 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cencora were worth $7,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its position in Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares during the period. Costello Asset Management INC acquired a new stake in shares of Cencora during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora during the first quarter worth $39,000. Finally, Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during 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 during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COR shares. Evercore ISI set a $340.00 price target on Cencora in a report on Wednesday, October 8th. Wall Street Zen cut Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. UBS Group raised their price objective on shares of Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Finally, Mizuho raised their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $329.00.

Cencora Trading Up 1.0%

Shares of Cencora stock opened at $336.00 on Tuesday. The stock has a 50 day moving average price of $305.00 and a two-hundred day moving average price of $295.60. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $336.07. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market capitalization of $65.14 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63.

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

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the transaction, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. The trade was a 11.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The shares were 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 of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,544 shares of company stock valued at $12,230,941 in the last quarter. Company insiders own 10.80% of the company’s stock.

Cencora Company 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.