NewEdge Advisors LLC Sells 2,008 Shares of Cencora, Inc. (NYSE:COR)

NewEdge Advisors LLC decreased its position in Cencora, Inc. (NYSE:COR) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 222,606 shares of the company’s stock after selling 2,008 shares during the quarter. NewEdge Advisors LLC owned 0.11% of Cencora worth $50,153,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COR. Rise Advisors LLC bought a new position in Cencora in the 1st quarter valued at $25,000. New Millennium Group LLC bought a new stake in Cencora during the 2nd quarter worth about $26,000. Legacy Bridge LLC acquired a new stake in Cencora in the 1st quarter valued at about $27,000. TCTC Holdings LLC bought a new position in shares of Cencora in the first quarter worth about $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. 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 90 days. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COR. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $256.67.

Cencora Stock Performance

Shares of NYSE:COR opened at $224.92 on Friday. The firm’s 50 day simple moving average is $234.96 and its 200 day simple moving average is $232.73. Cencora, Inc. has a fifty-two week low of $178.21 and a fifty-two week high of $247.66. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.58 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.

Cencora (NYSE:COR) last announced 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. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period last year, the firm posted $2.92 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

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 $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is currently 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.