Cencora, Inc. $COR Shares Sold by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies LLC reduced its holdings in Cencora, Inc. by 24.2%, selling 4,826 shares during the second quarter, leaving them with shares valued at approximately $4.47 million.
• Cencora recently reported a quarterly EPS of $4.00, surpassing the consensus estimate and showcasing an 8.7% year-over-year revenue increase, achieving $80.66 billion in revenue for the quarter.
• The company declared a quarterly dividend of $0.55 per share, representing an annual yield of 0.7%, with a payout ratio of 22.63%.

Insight Wealth Strategies LLC trimmed its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 24.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,146 shares of the company's stock after selling 4,826 shares during the period. Insight Wealth Strategies LLC's holdings in Cencora were worth $4,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC acquired a new position in shares of Cencora in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora in the 1st quarter valued at about $39,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Cencora in the 4th quarter valued at about $38,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE:COR opened at $302.83 on Friday. The company has a market cap of $58.71 billion, a P/E ratio of 31.16, a PEG ratio of 1.44 and a beta of 0.62. 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 one year low of $218.65 and a one year high of $309.35. The business's 50-day simple moving average is $293.24 and its 200 day simple moving average is $285.74.

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

Cencora Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares in the company, valued at $90,702,237.71. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 over the last 90 days. 10.80% of the stock is owned by company insiders.

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.

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