Marvin & Palmer Associates Inc. Acquires Shares of 10,097 Cencora, Inc. $COR

Key Points

• Marvin & Palmer Associates bought 10,097 shares of Cencora (≈$3.41M) in Q3, making the position about 3.0% of its portfolio and its 13th-largest holding.
• Insider selling has been notable recently: the EVP and CEO sold shares (total insider sales of 15,220 shares, ≈$5.28M in the last three months), leaving insiders with about 0.38% ownership.
• Cencora beat EPS estimates ($4.08 vs. $4.04), reported 5.5% revenue growth year-over-year, pays a $0.60 quarterly dividend (≈0.7% yield), and carries a consensus analyst price target of about $399 with a "Moderate Buy" rating.

Marvin & Palmer Associates Inc. bought a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,097 shares of the company's stock, valued at approximately $3,411,000. Cencora makes up about 3.0% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 13th biggest position.

Other institutional investors have also made changes to their positions in the company. IAG Wealth Partners LLC bought a new position in Cencora during the third quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its stake in Cencora by 69.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Cencora during the third quarter valued at $31,000. Caitlin John LLC acquired a new stake in shares of Cencora during the third quarter worth $31,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company's stock worth $33,000 after purchasing an additional 70 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,677 shares of Cencora stock in a transaction on Friday, December 19th. The stock was sold at an average price of $345.00, for a total transaction of $578,565.00. Following the sale, the executive vice president owned 18,796 shares of the company's stock, valued at $6,484,620. The trade was a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,096 shares of the business's stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares of the company's stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,220 shares of company stock valued at $5,282,867 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Cencora Stock Down 0.4%

COR stock opened at $357.98 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a fifty-two week low of $251.94 and a fifty-two week high of $377.54. The firm's 50-day simple moving average is $354.16 and its 200 day simple moving average is $336.45. The stock has a market cap of $69.64 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.67 and a beta of 0.68.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to analyst estimates of $86.12 billion. During the same period in the previous year, the business posted $3.73 EPS. Cencora's revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora's payout ratio is currently 28.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COR. Evercore decreased their price target on shares of Cencora from $440.00 to $420.00 and set an "outperform" rating for the company in a report on Thursday, February 5th. Jefferies Financial Group upgraded shares of Cencora from an "underperform" rating to a "buy" rating in a research note on Thursday, January 22nd. Weiss Ratings raised shares of Cencora from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, February 5th. TD Cowen upped their target price on Cencora from $350.00 to $400.00 and gave the company a "buy" rating in a report on Monday, November 10th. Finally, Wells Fargo & Company increased their price target on Cencora from $405.00 to $429.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $399.00.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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