NewEdge Advisors LLC Decreases Holdings in Cencora, Inc. $COR

Key Points

• NewEdge Advisors LLC reduced its holdings in Cencora, Inc. by 1.7% during the first quarter, now owning approximately 0.12% of the company, worth $62.16 million.
• Cencora's recent earnings report showed an EPS of $4.00, surpassing analyst estimates, with revenue up 8.7% year-over-year.
• The company announced a quarterly dividend of $0.55 per share, representing an annualized yield of 0.8%.

NewEdge Advisors LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,506 shares of the company's stock after selling 3,917 shares during the quarter. NewEdge Advisors LLC owned approximately 0.12% of Cencora worth $62,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of COR. GAMMA Investing LLC boosted its stake in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after acquiring an additional 1,594,800 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after acquiring an additional 1,364,433 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake 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 worth $277,321,000 after acquiring an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 worth $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Cencora during the 1st quarter worth $181,284,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of COR traded down $0.18 during trading hours on Friday, reaching $292.52. 1,012,863 shares of the stock traded hands, compared to its average volume of 1,270,992. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company's 50-day moving average price is $292.84 and its two-hundred day moving average price is $284.16. The company has a market cap of $56.71 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. On average, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,125 shares of company stock worth $9,993,789. Corporate insiders own 10.80% of the company's stock.

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.