Praxis Investment Management Inc. Has $2.11 Million Stock Position in Cencora, Inc. (NYSE:COR)

Praxis Investment Management Inc. decreased its stake in Cencora, Inc. (NYSE:COR) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,590 shares of the company’s stock after selling 230 shares during the period. Praxis Investment Management Inc.’s holdings in Cencora were worth $2,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Perfromance Wealth Partners LLC acquired a new stake in Cencora during the first quarter worth $203,000. Advisor Resource Council acquired a new stake in Cencora during the first quarter worth $494,000. Blue Trust Inc. boosted its stake in Cencora by 7.1% during the first quarter. Blue Trust Inc. now owns 1,094 shares of the company’s stock worth $304,000 after buying an additional 73 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Cencora during the first quarter worth $169,000. Finally, Institute for Wealth Management LLC. acquired a new stake in Cencora during the first quarter worth $229,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 1.0%

Shares of NYSE:COR opened at $293.66 on Friday. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company’s fifty day moving average is $288.98 and its 200-day moving average is $263.19. The company has a market capitalization of $56.92 billion, a PE ratio of 34.07, a P/E/G ratio of 1.47 and a beta of 0.58.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora’s dividend payout ratio is 25.52%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now directly owns 315,913 shares of the company’s stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now directly owns 47,582 shares of the company’s stock, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,253 shares of company stock valued at $10,582,297 over the last ninety days. 10.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $306.91.

About Cencora

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.