Cerity Partners LLC Sells 4,386 Shares of Cencora, Inc. (NYSE:COR)

Cerity Partners LLC cut its position in Cencora, Inc. (NYSE:COR - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,501 shares of the company's stock after selling 4,386 shares during the quarter. Cerity Partners LLC's holdings in Cencora were worth $9,872,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Cencora during the 4th quarter valued at approximately $478,309,000. Bank of America Corp DE boosted its position in shares of Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cencora in the fourth quarter worth $399,508,000. GAMMA Investing LLC increased its position in Cencora by 43,561.9% during the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after acquiring an additional 1,594,800 shares during the period. Finally, Invesco Ltd. raised its stake in Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,127 shares of company stock valued at $9,812,296 over the last ninety days. Insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of COR traded down $3.25 during trading hours on Thursday, hitting $294.58. The stock had a trading volume of 794,423 shares, compared to its average volume of 1,502,696. The stock has a market capitalization of $57.10 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 1.46 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company's fifty day moving average is $291.96 and its two-hundred day moving average is $271.13. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.80 earnings per share. On average, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

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.