Harbour Trust & Investment Management Co Buys 1,424 Shares of Cencora, Inc. $COR

Key Points

• Harbour Trust & Investment Management Co increased its holdings in Cencora, Inc. by 12.2%, acquiring 1,424 shares, bringing their total to 13,083 shares valued at approximately $3.92 million.
• Insider sales include Chairman Steven H. Collis selling 31,350 shares for over $9 million, reducing his ownership stake by 9.30%, while CEO Robert P. Mauch sold 5,097 shares totaling about $1.48 million.
• Cencora's recent financial performance exceeded expectations, reporting a $4.00 EPS for the last quarter, beating the consensus estimate by $0.21, with a year-over-year revenue increase of 8.7% to $80.66 billion.

Harbour Trust & Investment Management Co lifted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 12.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,083 shares of the company's stock after purchasing an additional 1,424 shares during the period. Harbour Trust & Investment Management Co's holdings in Cencora were worth $3,923,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after buying an additional 2,087 shares during the period. Integrated Advisors Network LLC bought a new position in Cencora in the first quarter valued at approximately $200,000. Wealth Enhancement Advisory Services LLC grew its stake in Cencora by 0.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 273,522 shares of the company's stock valued at $76,063,000 after purchasing an additional 1,884 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Cencora by 6.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after acquiring an additional 93 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Cencora by 8.7% during the 1st quarter. Ritholtz Wealth Management now owns 12,212 shares of the company's stock worth $3,396,000 after acquiring an additional 979 shares during the period. Institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock valued at $16,292,923 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Down 0.2%

Shares of NYSE:COR opened at $317.24 on Tuesday. Cencora, Inc. has a 12-month low of $221.95 and a 12-month high of $319.87. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock's 50-day moving average price is $297.46 and its 200-day moving average price is $292.16. The stock has a market capitalization of $61.51 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share 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 analysts' expectations of $80.34 billion. During the same period in the previous year, the firm posted $3.34 EPS. The business's revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

COR has been the subject of several analyst reports. Wall Street Zen cut Cencora from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group boosted 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. Wells Fargo & Company boosted 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. Evercore ISI set a $340.00 price target on Cencora in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $320.00.

Cencora Company 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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