Cencora, Inc. (NYSE:COR) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in Cencora, Inc. (NYSE:COR) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,231 shares of the company’s stock after selling 19,122 shares during the quarter. Wedge Capital Management L L P NC owned 0.07% of Cencora worth $30,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Kingswood Wealth Advisors LLC bought a new stake in shares of Cencora in the 2nd quarter worth about $655,000. TD Asset Management Inc bought a new stake in shares of Cencora during the 1st quarter worth about $95,313,000. LSV Asset Management acquired a new stake in Cencora in the first quarter worth approximately $3,579,000. Cairn Investment Group Inc. bought a new position in Cencora during the first quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of Cencora during the 1st quarter valued at about $836,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COR shares. Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Bank of America restated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI cut their target price on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.44.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 in the last quarter. Company insiders own 15.80% of the company’s stock.

Cencora Stock Up 0.4 %

Shares of COR traded up $0.99 during mid-day trading on Monday, hitting $223.55. 270,509 shares of the company’s stock were exchanged, compared to its average volume of 1,407,337. The company has a 50-day simple moving average of $232.97 and a 200 day simple moving average of $231.31. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. 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 company has a market cap of $44.59 billion, a PE ratio of 24.45, a P/E/G ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.92 EPS. On average, research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s payout ratio is currently 22.32%.

Cencora Company 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.