Semmax Financial Advisors Inc. Decreases Stock Position in Cencora, Inc. $COR

Key Points

• Semmax Financial Advisors Inc. reduced its holdings in Cencora, Inc. by 11.1%, selling 972 shares and owning a total of 7,809 shares worth $2.21 million at the end of the reporting period.
• Other institutional investors, such as GAMMA Investing LLC and T. Rowe Price Investment Management Inc., significantly increased their positions in Cencora during the first quarter, with GAMMA's increase totaling an astonishing 43,561.9%.
• Cencora recently reported a quarterly earnings per share (EPS) of $4.00, surpassing the analyst consensus estimate of $3.79, and its revenue for the quarter reached $80.66 billion, reflecting an 8.7% year-over-year increase.

Semmax Financial Advisors Inc. lessened its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,809 shares of the company's stock after selling 972 shares during the quarter. Semmax Financial Advisors Inc.'s holdings in Cencora were worth $2,210,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Cencora in the first quarter worth about $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora in the first quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Cencora in the fourth quarter worth about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the first quarter worth about $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock valued at $9,993,789. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Trading Up 0.0%

Shares of COR traded up $0.03 during midday trading on Friday, reaching $302.83. The company had a trading volume of 1,189,360 shares, compared to its average volume of 1,548,841. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The stock has a market cap of $58.71 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The firm has a 50 day simple moving average of $293.11 and a 200-day simple moving average of $285.14. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during 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 firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 earnings per share. Research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio is presently 22.63%.

Cencora 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.