Hudson Edge Investment Partners Inc. Sells 1,810 Shares of Cencora, Inc. $COR

Key Points

• Hudson Edge Investment Partners Inc. reduced its stake in Cencora, Inc. by 7.3% in Q2, owning 23,000 shares after selling 1,810 shares, which is now 1.2% of its portfolio.
• Institutions like Invesco Ltd. and T. Rowe Price Investment Management Inc. significantly increased their holdings in Cencora, demonstrating strong institutional interest with 97.52% of the stock owned by institutional investors.
• Cencora recently announced a quarterly dividend of $0.55 per share and reported earnings of $4.00 per share, surpassing analysts' estimates and showing an 8.7% year-over-year revenue increase.

Hudson Edge Investment Partners Inc. trimmed its position in Cencora, Inc. (NYSE:COR - Free Report) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,000 shares of the company's stock after selling 1,810 shares during the quarter. Cencora accounts for 1.2% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its 17th largest position. Hudson Edge Investment Partners Inc.'s holdings in Cencora were worth $6,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock valued at $277,321,000 after acquiring an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares in the last quarter. Nuveen LLC bought a new stake in Cencora in the first quarter valued at about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company's stock worth $206,641,000 after purchasing an additional 439,008 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the business'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 transaction, the chairman directly owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company'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 owned 39,274 shares in the company, valued at $11,389,460. The trade was 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 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Down 0.9%

NYSE COR opened at $308.89 on Friday. The stock's 50 day simple moving average is $294.44 and its 200 day simple moving average is $289.82. Cencora, Inc. has a one year low of $218.65 and a one year high of $315.23. The firm has a market cap of $59.89 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business's revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.34 earnings per share. As a group, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

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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