Cencora, Inc. $COR Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,560 shares of the company’s stock after selling 3,466 shares during the quarter. HighTower Advisors LLC’s holdings in Cencora were worth $33,550,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora during the fourth quarter worth approximately $25,000. Elyxium Wealth LLC purchased a new position in Cencora in the 4th quarter valued at $27,000. Motiv8 Investments LLC purchased a new position in Cencora in the 4th quarter valued at $29,000. Basepoint Wealth LLC acquired a new position in Cencora in the 4th quarter valued at $32,000. Finally, Elevation Wealth Partners LLC increased its stake in 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 buying an additional 81 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Cencora stock opened at $323.99 on Wednesday. The company has a market cap of $61.83 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The business has a fifty day moving average of $314.11 and a two-hundred day moving average of $309.06. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.00 EPS. As a group, analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Cencora announced that its board has approved a share buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COR shares. Barclays cut their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. 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 report on Thursday, August 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.38% of the company’s stock.

About Cencora

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.