Cencora, Inc. $COR Holdings Cut by Insight Advisors LLC PA

Insight Advisors LLC PA decreased its stake in Cencora, Inc. (NYSE:COR) by 25.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,025 shares of the company’s stock after selling 342 shares during the quarter. Insight Advisors LLC PA’s holdings in Cencora were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after buying an additional 787,858 shares in the last quarter. Wellington Management Group LLP lifted its position in Cencora by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock worth $1,507,599,000 after buying an additional 363,402 shares in the last quarter. Boston Partners lifted its position in Cencora by 8.1% in the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after buying an additional 404,093 shares in the last quarter. Invesco Ltd. lifted its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Cencora by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock worth $475,890,000 after buying an additional 154,311 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $328.98 on Friday. Cencora, Inc. has a 1 year low of $223.92 and a 1 year high of $331.94. The firm’s fifty day simple moving average is $303.30 and its 200 day simple moving average is $294.47. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $63.78 billion, a PE ratio of 33.85, a PEG ratio of 1.55 and a beta of 0.63.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period last year, the business posted $3.34 EPS. Cencora’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Mizuho increased their price target on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $324.91.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,544 shares of company stock worth $12,230,941 over the last quarter. 10.80% of the stock is currently owned by company insiders.

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.