Moran Wealth Management LLC Sells 5,004 Shares of Cencora, Inc. $COR

Key Points

• Moran Wealth Management LLC reduced its stake in Cencora by 7.1%, selling 5,004 shares and leaving it with 65,260 shares valued at about $22.04 million at quarter end.
• CEO Robert P. Mauch also sold shares (5,096) in January, and institutional investors now own roughly 97.52% of Cencora's stock.
• Cencora trades near $327.52 with a $63.7B market cap, reported a small EPS beat ($4.08 vs. $4.04) with revenue up 5.5% YoY, pays a $0.60 quarterly dividend (0.7% yield), and has an analyst consensus of Moderate Buy with an average target of $398.17.

Moran Wealth Management LLC reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,260 shares of the company's stock after selling 5,004 shares during the quarter. Moran Wealth Management LLC's holdings in Cencora were worth $22,042,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COR. Marshall Wace LLP lifted its stake in Cencora by 518.9% in the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company's stock worth $623,534,000 after acquiring an additional 1,672,762 shares during the period. Mizuho Markets Americas LLC increased its position in Cencora by 116.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 212,800 shares of the company's stock valued at $66,506,000 after purchasing an additional 1,511,906 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cencora by 528.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company's stock worth $461,250,000 after purchasing an additional 1,241,186 shares in the last quarter. Viking Global Investors LP raised its holdings in Cencora by 95.0% in the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company's stock worth $624,207,000 after purchasing an additional 1,013,913 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Cencora by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 23,395,547 shares of the company's stock worth $7,311,810,000 after purchasing an additional 916,506 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Up 1.6%

Shares of NYSE COR opened at $327.52 on Friday. Cencora, Inc. has a 1 year low of $271.00 and a 1 year high of $377.54. The stock has a market cap of $63.71 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.50 and a beta of 0.72. The firm has a 50-day moving average of $342.14 and a 200 day moving average of $342.88. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51.

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

Cencora Announces Dividend

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

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 5,096 shares of the firm's stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COR has been the topic of a number of research reports. Leerink Partners reaffirmed an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Robert W. Baird set a $415.00 price objective on shares of Cencora in a report on Tuesday, January 13th. Weiss Ratings upgraded Cencora from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. Finally, Bank of America lowered their target price on Cencora from $380.00 to $360.00 and set a "neutral" rating for the company in a research note on Monday, January 5th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $398.17.

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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