Cencora, Inc. (NYSE:COR) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its position in Cencora, Inc. (NYSE:COR - Free Report) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,233 shares of the company's stock after selling 9,988 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Cencora were worth $10,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COR. Suncoast Equity Management boosted its position in Cencora by 2.4% in the 1st quarter. Suncoast Equity Management now owns 28,052 shares of the company's stock valued at $7,801,000 after buying an additional 645 shares during the last quarter. Perfromance Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter worth about $203,000. Advisor Resource Council purchased a new position in Cencora in the first quarter valued at about $494,000. Blue Trust Inc. boosted its holdings in Cencora by 7.1% in the first quarter. Blue Trust Inc. now owns 1,094 shares of the company's stock valued at $304,000 after purchasing an additional 73 shares during the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in Cencora during the 1st quarter valued at approximately $169,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman now owns 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is currently owned by company insiders.

Cencora Trading Down 0.8%

Cencora stock opened at $291.91 on Thursday. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm's 50-day moving average is $289.50 and its 200-day moving average is $264.17. 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 has a market cap of $56.58 billion, a P/E ratio of 33.86, a PEG ratio of 1.46 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping 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 firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the prior year, the business earned $3.80 earnings per share. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COR shares. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. UBS Group upped their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Finally, Bank of America upped their target price on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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