Ironwood Financial llc Cuts Position in Cencora, Inc. (NYSE:COR)

by · The Cerbat Gem

Ironwood Financial llc decreased its stake in Cencora, Inc. (NYSE:COR – Free Report) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,979 shares of the company’s stock after selling 152 shares during the period. Ironwood Financial llc’s holdings in Cencora were worth $2,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Cencora in the second quarter valued at $655,000. TD Asset Management Inc acquired a new stake in shares of Cencora during the first quarter valued at about $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora during the first quarter valued at about $3,579,000. Cairn Investment Group Inc. acquired a new stake in shares of Cencora during the first quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Cencora in the first quarter worth about $836,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on COR. Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird cut their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Finally, Evercore ISI dropped their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.44.

Check Out Our Latest Research Report on COR

Cencora Stock Performance

Shares of COR traded down $1.46 during midday trading on Thursday, hitting $235.11. 17,366 shares of the stock traded hands, compared to its average volume of 1,418,771. The business’s 50 day moving average price is $232.42 and its two-hundred day moving average price is $231.15. The firm has a market capitalization of $46.89 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a 1-year low of $182.75 and a 1-year high of $247.66.

Cencora (NYSE:COR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the company posted $2.92 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.87%. Cencora’s payout ratio is 22.32%.

Cencora Profile

(Free Report)

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.

Recommended Stories