Elevation Point Wealth Partners LLC Has $1.25 Million Stock Position in Cencora, Inc. (NYSE:COR)

Elevation Point Wealth Partners LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,496 shares of the company’s stock after selling 43 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Cencora were worth $1,250,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Net Worth Advisory Group lifted its position in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock worth $736,000 after buying an additional 36 shares during the last quarter. Whittier Trust Co. lifted its position in shares of Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co lifted its position in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after buying an additional 47 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares of the company’s stock, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,253 shares of company stock valued at $10,582,297. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on Cencora in a research report on Tuesday, April 15th. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Trading Up 0.0%

Shares of COR stock opened at $295.12 on Friday. The stock has a market cap of $57.20 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 1.31 and a beta of 0.58. The stock has a 50-day moving average of $287.24 and a 200-day moving average of $261.74. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.80 earnings per share. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora’s payout ratio is 25.52%.

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.