Sawyer & Company Inc Cuts Stake in Cencora, Inc. (NYSE:COR)

Sawyer & Company Inc cut its holdings in Cencora, Inc. (NYSE:COR) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,447 shares of the company’s stock after selling 592 shares during the quarter. Sawyer & Company Inc’s holdings in Cencora were worth $2,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Suncoast Equity Management grew its holdings in shares of Cencora by 2.4% in the first quarter. Suncoast Equity Management now owns 28,052 shares of the company’s stock valued at $7,801,000 after purchasing an additional 645 shares in the last quarter. Perfromance Wealth Partners LLC purchased a new position in shares of Cencora in the first quarter valued at $203,000. Advisor Resource Council purchased a new position in shares of Cencora in the first quarter valued at $494,000. Blue Trust Inc. grew its holdings in shares of Cencora by 7.1% in the first quarter. Blue Trust Inc. now owns 1,094 shares of the company’s stock valued at $304,000 after purchasing an additional 73 shares in the last quarter. Finally, Silver Oak Securities Incorporated purchased a new position in shares of Cencora in the first quarter valued at $169,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of Cencora stock opened at $293.66 on Friday. The firm has a market cap of $56.92 billion, a P/E ratio of 34.07, a P/E/G ratio of 1.47 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The stock’s fifty day moving average price is $288.98 and its 200-day moving average price is $263.19.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the previous year, the firm earned $3.80 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora’s payout ratio is 25.52%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares of the company’s stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,253 shares of company stock worth $10,582,297. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on COR shares. Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Citigroup lifted their target price on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $306.91.

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.