Cencora, Inc. $COR Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments trimmed its holding in Cencora by 9%, selling 4,345 shares and leaving 43,925 shares valued at about $14.84 million at the end of the quarter, while institutional investors own roughly 97.5% of the stock.
• CEO Robert P. Mauch sold 5,096 shares on January 20 at an average price of $354.73, a transaction that reduced his position by 7.1%; company insiders now hold about 0.38% of Cencora.
• Cencora beat quarterly EPS estimates ($4.08 vs. $4.04) with revenue of $85.93 billion (up 5.5% YoY); the company has a market cap near $63.7 billion and analysts have a consensus "Moderate Buy" rating with an average target of $398.17.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,925 shares of the company's stock after selling 4,345 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Cencora were worth $14,836,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IAG Wealth Partners LLC acquired a new position in shares of Cencora during the third quarter valued at $30,000. Cloud Capital Management LLC acquired a new position in shares of Cencora during the third quarter valued at $31,000. Caitlin John LLC acquired a new position in shares of Cencora during the third quarter valued at $31,000. Optima Capital LLC acquired a new position in shares of Cencora during the fourth quarter valued at $31,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company's stock valued at $33,000 after purchasing an additional 70 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE:COR opened at $327.52 on Friday. The business's 50-day moving average price is $342.14 and its 200 day moving average price is $343.09. The firm has a market cap of $63.71 billion, a P/E ratio of 39.37, a PEG ratio of 1.50 and a beta of 0.72. Cencora, Inc. has a 52-week low of $271.00 and a 52-week 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.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating 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 business had revenue of $85.93 billion during the quarter, compared to analyst estimates of $86.12 billion. During the same quarter last year, the company posted $3.73 EPS. Cencora's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is 28.85%.

Insider Buying and Selling at Cencora

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

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Evercore set a $360.00 price target on Cencora in a report on Wednesday, April 8th. Barclays lifted their target price on Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. JPMorgan Chase & Co. lifted their target price on Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Leerink Partners reaffirmed an "outperform" rating on shares of Cencora in a report on Tuesday, March 17th. Finally, Bank of America lowered their target price on Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a report on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $398.17.

About Cencora

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.

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