Cypress Capital Group Sells 478 Shares of Cencora, Inc. (NYSE:COR)

Cypress Capital Group decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,764 shares of the company’s stock after selling 478 shares during the quarter. Cypress Capital Group’s holdings in Cencora were worth $4,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in Cencora during the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora during the first quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. bought a new position in Cencora during the 1st quarter valued at approximately $1,199,695,000. Boston Partners bought a new stake in Cencora in the first quarter worth $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in Cencora in the first quarter worth about $650,424,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on COR shares. Robert W. Baird raised their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Citigroup raised their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $258.63.

Insiders Place Their Bets

In related news, EVP Gina Clark sold 1,874 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the completion of the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now owns 13,284 shares in the company, valued at approximately $2,973,756.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,479,366 shares of company stock valued at $1,076,666,297 in the last ninety days. Insiders own 15.80% of the company’s stock.

Cencora Price Performance

NYSE:COR traded down $2.85 during trading hours on Friday, hitting $237.74. 1,170,844 shares of the stock were exchanged, compared to its average volume of 1,367,834. The firm’s fifty day moving average price is $231.85 and its 200 day moving average price is $232.76. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The company has a market cap of $47.42 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.92 EPS. As a group, equities research analysts anticipate that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 9th. Cencora’s dividend payout ratio is presently 22.32%.

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.