Aberdeen Group plc Raises Stock Position in Cencora, Inc. $COR

Key Points

• Aberdeen Group plc increased its stake in Cencora, Inc. by 14.3% during the second quarter, owning 150,488 shares valued at approximately $45 million.
• Cencora reported a quarterly earnings per share of $4.00, surpassing analysts' expectations and showing an 8.7% increase in revenue compared to the previous year.
• Insiders, including Chairman Steven H. Collis and CEO Robert P. Mauch, sold a combined 55,993 shares of Cencora stock valued at over $16 million during the last quarter.

Aberdeen Group plc increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 14.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,488 shares of the company's stock after purchasing an additional 18,800 shares during the quarter. Aberdeen Group plc owned 0.08% of Cencora worth $45,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PDS Planning Inc boosted its stake in shares of Cencora by 10.6% during the 2nd quarter. PDS Planning Inc now owns 1,325 shares of the company's stock worth $397,000 after acquiring an additional 127 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Cencora by 8.8% during the 2nd quarter. Blue Trust Inc. now owns 1,190 shares of the company's stock worth $357,000 after acquiring an additional 96 shares during the last quarter. Monument Capital Management boosted its stake in shares of Cencora by 2.4% during the 2nd quarter. Monument Capital Management now owns 1,637 shares of the company's stock worth $491,000 after acquiring an additional 38 shares during the last quarter. Brandywine Oak Private Wealth LLC purchased a new position in shares of Cencora during the 2nd quarter worth $213,000. Finally, IFP Advisors Inc boosted its stake in shares of Cencora by 30.4% during the 2nd quarter. IFP Advisors Inc now owns 1,775 shares of the company's stock worth $543,000 after acquiring an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of Cencora 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 sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is currently owned by insiders.

Cencora Stock Up 1.2%

COR opened at $318.01 on Monday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a fifty-two week low of $221.95 and a fifty-two week high of $319.68. The firm's fifty day moving average is $296.99 and its 200 day moving average is $291.87. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly 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. The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.34 EPS. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's payout ratio is currently 22.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COR. Wall Street Zen cut shares of Cencora from a "buy" rating to a "hold" rating in a research note on Saturday. 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. Jefferies Financial Group lifted 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. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $320.00.

Cencora Company 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.

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