Synergy Asset Management LLC Trims Stock Position in Cencora, Inc. (NYSE:COR)

Synergy Asset Management LLC lowered its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,464 shares of the company's stock after selling 6,934 shares during the quarter. Cencora makes up approximately 2.2% of Synergy Asset Management LLC's holdings, making the stock its 14th biggest position. Synergy Asset Management LLC's holdings in Cencora were worth $17,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COR. Atria Wealth Solutions Inc. increased its holdings in Cencora by 31.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,621 shares of the company's stock valued at $2,162,000 after buying an additional 2,303 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Cencora by 4.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 8,046 shares of the company's stock worth $1,808,000 after purchasing an additional 349 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its stake in shares of Cencora by 0.6% in the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 56,805 shares of the company's stock worth $12,763,000 after purchasing an additional 331 shares in the last quarter. Passumpsic Savings Bank increased its position in Cencora by 1.5% in the fourth quarter. Passumpsic Savings Bank now owns 6,559 shares of the company's stock worth $1,474,000 after buying an additional 95 shares in the last quarter. Finally, Greystone Financial Group LLC increased its position in Cencora by 3.0% in the fourth quarter. Greystone Financial Group LLC now owns 3,255 shares of the company's stock worth $731,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

COR has been the subject of a number of analyst reports. Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. Robert W. Baird increased their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.91.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the completion of the transaction, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. This trade represents a 4.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is owned by corporate insiders.

Cencora Trading Down 1.0%

Shares of Cencora stock opened at $293.66 on Friday. The firm has a market cap of $56.92 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 1.45 and a beta of 0.58. The business has a 50-day moving average price of $288.98 and a 200-day moving average price of $263.29. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.80 earnings per share. Equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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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