Glenmede Investment Management LP Sells 4,232 Shares of Cencora, Inc. $COR

Glenmede Investment Management LP reduced its stake in Cencora, Inc. (NYSE:COR) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 169,665 shares of the company’s stock after selling 4,232 shares during the quarter. Glenmede Investment Management LP owned about 0.09% of Cencora worth $53,025,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COR. IAG Wealth Partners LLC bought a new position in Cencora during the 3rd quarter worth approximately $30,000. Cloud Capital Management LLC bought a new stake in shares of Cencora in the 3rd quarter valued at $31,000. Caitlin John LLC bought a new stake in shares of Cencora in the 3rd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Cencora by 69.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the period. Finally, Westside Investment Management Inc. raised its stake in Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after buying an additional 70 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, February 5th. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company increased their price target on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Finally, Evercore decreased their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.00.

Cencora Stock Performance

COR opened at $349.69 on Friday. Cencora, Inc. has a 1-year low of $252.49 and a 1-year high of $377.54. The company has a market cap of $68.03 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.64 and a beta of 0.68. The company’s fifty day moving average price is $355.58 and its two-hundred day moving average price is $338.13. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. During the same period last year, the company earned $3.73 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio is 28.85%.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,677 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $345.00, for a total value of $578,565.00. Following the completion of the sale, the executive vice president directly owned 18,796 shares of the company’s stock, valued at approximately $6,484,620. This represents a 8.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares in the company, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,220 shares of company stock valued at $5,282,867 over the last ninety days. 0.38% of the stock is currently owned by insiders.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.