Flagship Harbor Advisors LLC Increases Position in Cencora, Inc. $COR

Flagship Harbor Advisors LLC increased its stake in Cencora, Inc. (NYSE:COR) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,109 shares of the company’s stock after acquiring an additional 202 shares during the period. Flagship Harbor Advisors LLC’s holdings in Cencora were worth $632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voleon Capital Management LP purchased a new position in Cencora in the first quarter worth $3,111,000. Focus Partners Wealth boosted its position in Cencora by 25.8% during the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after buying an additional 1,171 shares during the period. Martin Capital Partners LLC boosted its position in Cencora by 205.2% during the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after buying an additional 2,544 shares during the period. Fiduciary Alliance LLC purchased a new stake in Cencora during the second quarter valued at about $262,000. Finally, Ascent Group LLC boosted its position in Cencora by 42.7% during the first quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock valued at $3,500,000 after buying an additional 3,764 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 41,544 shares of company stock valued at $12,230,941. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on COR shares. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 price target on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. UBS Group upped their price target on shares of Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $329.55.

Cencora Stock Performance

Cencora stock opened at $337.60 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a 50-day moving average of $308.09 and a 200-day moving average of $297.02. The firm has a market cap of $65.45 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a 1-year low of $223.92 and a 1-year high of $350.46.

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

Cencora Announces Dividend

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

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.