Cencora, Inc. (NYSE:COR) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 2.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,202 shares of the company’s stock after selling 99 shares during the period. Lmcg Investments LLC’s holdings in Cencora were worth $947,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COR. Vanguard Group Inc. acquired a new stake in Cencora during the fourth quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new position in shares of Cencora during the 1st quarter valued at approximately $1,199,695,000. Boston Partners purchased a new position in shares of Cencora during the 1st quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors acquired a new position in shares of Cencora in the 1st quarter valued at $650,424,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Robert W. Baird reduced their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.13.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is owned by corporate insiders.

Cencora Trading Down 2.8 %

Shares of COR opened at $234.53 on Wednesday. Cencora, Inc. has a 52-week low of $177.00 and a 52-week high of $247.66. The stock has a market cap of $46.78 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The firm’s fifty day moving average is $234.52 and its two-hundred day moving average is $233.26. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.92 earnings per share. Research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. Cencora’s dividend payout ratio is presently 22.32%.

About Cencora

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.