Cencora, Inc. $COR Stock Holdings Decreased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its holdings in Cencora, Inc. (NYSE:COR) by 48.8% in the second quarter, Holdings Channel.com reports. The firm owned 5,791 shares of the company’s stock after selling 5,524 shares during the period. Integrated Wealth Concepts LLC’s holdings in Cencora were worth $1,639,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COR. Elyxium Wealth LLC acquired a new stake in Cencora during the 4th quarter worth about $27,000. Elevation Wealth Partners LLC increased its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Bell Investment Advisors Inc purchased a new stake in shares of Cencora in the second quarter worth approximately $28,000. Caitlin John LLC purchased a new stake in shares of Cencora in the second quarter worth approximately $28,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Cencora during the fourth quarter worth approximately $32,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COR shares. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Bank of America increased their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, UBS Group lifted their price objective on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Down 0.9%

Cencora stock opened at $323.20 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The firm’s fifty day simple moving average is $316.76 and its 200-day simple moving average is $307.67. The company has a market capitalization of $61.68 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.85 and a beta of 0.57.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $4.00 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora announced that its board has authorized a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company’s stock.

Cencora Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.