Moran Wealth Management LLC Cuts Stock Position in Cencora, Inc. $COR

Key Points

• Moran Wealth Management trimmed its Cencora stake by 9.9% in the first quarter, selling 6,436 shares and leaving it with 58,824 shares valued at about $18.48 million.
• Insider activity was positive, as Director Lauren M. Tyler bought 550 shares on June 22, increasing her ownership by 14.44%.
• Cencora’s latest results were mixed: quarterly EPS and revenue both missed analyst expectations, though revenue still grew 3.9% year over year, and the company authorized a $2 billion share buyback while maintaining a quarterly dividend of $0.60 per share.

Moran Wealth Management LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,824 shares of the company's stock after selling 6,436 shares during the quarter. Moran Wealth Management LLC's holdings in Cencora were worth $18,479,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. Chilton Investment Co. Inc. acquired a new position in shares of Cencora during the third quarter worth about $459,000. Nordea Investment Management AB raised its holdings in Cencora by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 1,256,356 shares of the company's stock valued at $426,715,000 after acquiring an additional 45,712 shares in the last quarter. Kepler Cheuvreux Suisse SA acquired a new stake in Cencora in the third quarter valued at approximately $25,384,000. Groupama Asset Managment purchased a new position in Cencora in the third quarter worth approximately $1,225,000. Finally, Assetmark Inc. lifted its stake in Cencora by 57.0% in the fourth quarter. Assetmark Inc. now owns 67,281 shares of the company's stock worth $22,724,000 after acquiring an additional 24,431 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler bought 550 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Cencora Stock Down 0.0%

Shares of NYSE:COR opened at $296.43 on Friday. The company has a market capitalization of $57.67 billion, a PE ratio of 22.73, a P/E/G ratio of 1.65 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The firm has a 50 day simple moving average of $277.91 and a 200-day simple moving average of $320.37.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $4.75 EPS for the quarter, missing analysts' consensus estimates of $4.82 by ($0.07). Cencora had a net margin of 0.78% and a return on equity of 135.20%. The company had revenue of $78.36 billion during the quarter, compared to analysts' expectations of $81.09 billion. During the same period last year, the business earned $4.42 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. On average, equities analysts predict that Cencora, Inc. will post 17.79 EPS for the current fiscal year.

Cencora announced that its Board of Directors has authorized a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. Cencora's payout ratio is presently 18.40%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup lowered their price target on shares of Cencora from $405.00 to $355.00 and set a "buy" rating for the company in a report on Thursday, May 7th. UBS Group lifted their price objective on shares of Cencora from $410.00 to $412.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Evercore set a $360.00 target price on shares of Cencora in a research note on Wednesday, April 8th. Leerink Partners restated an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Finally, Barclays cut their price target on Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 10th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $367.75.

Cencora Company Profile

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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