Stanley Laman Group Ltd. Trims Position in Cencora, Inc. $COR

Key Points

• Stanley Laman Group Ltd. reduced its stake in Cencora, Inc. by 22.1%, holding 14,286 shares valued at approximately $4.28 million after selling 4,059 shares in the second quarter.
• Insider sales included Chairman Steven H. Collis selling 31,350 shares for over $9 million, while CEO Robert P. Mauch sold 5,097 shares for around $1.48 million, indicating notable reductions in their respective positions.
• Analyst ratings for Cencora vary, with Wells Fargo and Mizuho increasing their price targets, while Wall Street Zen downgraded from "buy" to "hold," resulting in a consensus rating of "Moderate Buy" with a target price of $324.91.

Stanley Laman Group Ltd. cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 22.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,286 shares of the company's stock after selling 4,059 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Cencora were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC grew its holdings in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Costello Asset Management INC acquired a new position in shares of Cencora in the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora during the first quarter worth approximately $39,000. Golden State Wealth Management LLC lifted its position in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after purchasing an additional 104 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new stake in shares of Cencora in the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,025 shares of company stock valued at $14,831,784 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Mizuho lifted their price target on Cencora from $316.00 to $334.00 and gave the company an "outperform" rating in a research report on Thursday. Evercore ISI set a $340.00 price objective on Cencora in a report on Wednesday, October 8th. Wall Street Zen lowered Cencora from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $324.91.

Cencora Trading Up 1.7%

Shares of COR opened at $324.83 on Friday. The business's 50-day moving average price is $300.30 and its 200 day moving average price is $293.14. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $62.98 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.49 and a beta of 0.63. Cencora, Inc. has a 1-year low of $223.92 and a 1-year high of $325.70.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same period in the prior year, the firm earned $3.34 earnings per share. The business's quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is 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.

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