Cencora, Inc. (NYSE:COR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in Cencora, Inc. (NYSE:COR) by 46.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,806 shares of the company’s stock after selling 18,223 shares during the period. Edgestream Partners L.P.’s holdings in Cencora were worth $4,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Cencora in the first quarter worth $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora in the first quarter worth $27,000. New Millennium Group LLC acquired a new position in shares of Cencora in the second quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the first quarter worth $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter worth $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $234.53 on Wednesday. Cencora, Inc. has a 1-year low of $177.00 and a 1-year 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 company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a fifty day moving average price of $234.52 and a 200 day moving average price of $233.26.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current 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 given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Wall Street Analyst Weigh In

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

Insider Activity at Cencora

In other Cencora news, 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 value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last ninety days. Insiders own 15.80% of the company’s stock.

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.