Spire Wealth Management Raises Stock Position in Cencora, Inc. $COR

Spire Wealth Management boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 221.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,753 shares of the company’s stock after purchasing an additional 3,964 shares during the period. Spire Wealth Management’s holdings in Cencora were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in COR. Baron Wealth Management LLC acquired a new stake in Cencora during the 4th quarter worth about $204,000. Chesley Taft & Associates LLC purchased a new position in shares of Cencora during the 4th quarter valued at about $253,000. Eastern Bank lifted its holdings in shares of Cencora by 32.2% in the 4th quarter. Eastern Bank now owns 764 shares of the company’s stock valued at $258,000 after buying an additional 186 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of Cencora in the fourth quarter worth about $346,000. Finally, Stillwater Capital Advisors LLC boosted its stake in shares of Cencora by 38.3% in the fourth quarter. Stillwater Capital Advisors LLC now owns 1,709 shares of the company’s stock worth $577,000 after buying an additional 473 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of Cencora stock opened at $309.84 on Tuesday. The firm has a market cap of $60.27 billion, a PE ratio of 37.24, a P/E/G ratio of 1.46 and a beta of 0.68. Cencora, Inc. has a twelve month low of $267.40 and a twelve month high of $377.54. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The business has a 50-day moving average price of $351.15 and a 200 day moving average price of $341.17.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.04. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The company had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the prior year, the business posted $3.73 earnings per share. Cencora’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 28.85%.

Wall Street Analyst Weigh In

COR has been the topic of several analyst reports. Leerink Partners reaffirmed an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Bank of America lowered their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Jefferies Financial Group raised shares of Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Evercore reaffirmed an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Finally, Barclays boosted their target price on shares of Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $403.17.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.