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Convergence Investment Partners LLC Sells 1,189 Shares of Cencora, Inc. (NYSE:COR)

Cencora logo with Medical background

Convergence Investment Partners LLC cut its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,746 shares of the company's stock after selling 1,189 shares during the quarter. Convergence Investment Partners LLC's holdings in Cencora were worth $1,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. purchased a new position in Cencora in the 1st quarter worth about $28,000. Banque Transatlantique SA purchased a new position in Cencora in the 4th quarter worth about $29,000. Vermillion Wealth Management Inc. purchased a new position in Cencora during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC grew its stake in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after acquiring an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

Shares of NYSE COR traded down $0.28 during midday trading on Friday, hitting $290.17. 785,267 shares of the company's stock were exchanged, compared to its average volume of 1,072,635. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company's 50 day moving average price is $293.31 and its 200 day moving average price is $274.27. The firm has a market capitalization of $56.24 billion, a PE ratio of 33.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.80 EPS. As a group, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. Cencora's payout ratio is presently 25.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Robert W. Baird upped their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America raised their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, Jefferies Financial Group raised their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $309.83.

Get Our Latest Research Report on COR

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. Insiders own 10.80% of the company's stock.

Cencora Profile

(Free Report)

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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Institutional Ownership by Quarter for Cencora (NYSE:COR)

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