Eads & Heald Wealth Management Decreases Holdings in Cencora, Inc. (NYSE:COR)

Eads & Heald Wealth Management lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 5.7% in the third quarter, Holdings Channel reports. The firm owned 10,726 shares of the company’s stock after selling 653 shares during the period. Cencora accounts for about 1.1% of Eads & Heald Wealth Management’s investment portfolio, making the stock its 29th largest position. Eads & Heald Wealth Management’s holdings in Cencora were worth $2,414,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kingswood Wealth Advisors LLC acquired a new stake in Cencora in the 2nd quarter worth about $655,000. TD Asset Management Inc purchased a new stake in shares of Cencora during the first quarter worth approximately $95,313,000. LSV Asset Management purchased a new stake in shares of Cencora during the first quarter worth approximately $3,579,000. Lake Street Advisors Group LLC acquired a new position in Cencora in the 1st quarter valued at $836,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Cencora in the 1st quarter valued at $15,632,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 2.7 %

Shares of Cencora stock opened at $234.27 on Friday. The stock has a 50 day moving average of $231.39 and a 200 day moving average of $230.71. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The firm has a market capitalization of $46.16 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.46 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $184.00 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.92 EPS. As a group, research analysts predict that Cencora, Inc. will post 13.64 earnings per share for the current year.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated 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 in the company, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value 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 approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners decreased their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Bank of America reiterated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

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.