Edgestream Partners L.P. Lowers Stake in Cencora, Inc. (NYSE:COR)

Edgestream Partners L.P. reduced its position in shares of Cencora, Inc. (NYSE:COR) by 46.7% during the 2nd quarter, according to the company in its most recent 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 quarter. Edgestream Partners L.P.’s holdings in Cencora were worth $4,688,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of COR. Quantbot Technologies LP lifted its stake in Cencora by 39.2% in the 2nd quarter. Quantbot Technologies LP now owns 81,560 shares of the company’s stock valued at $18,375,000 after buying an additional 22,987 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Cencora by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock valued at $284,544,000 after buying an additional 119,927 shares in the last quarter. Black Creek Investment Management Inc. lifted its stake in Cencora by 7.8% in the 2nd quarter. Black Creek Investment Management Inc. now owns 24,873 shares of the company’s stock valued at $5,604,000 after buying an additional 1,809 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Cencora by 4.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 560,450 shares of the company’s stock valued at $126,269,000 after buying an additional 22,735 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Cencora by 2.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 28,452 shares of the company’s stock valued at $6,410,000 after buying an additional 616 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were 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 owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 in the last 90 days. Insiders own 15.80% of the company’s stock.

Cencora Trading Down 2.8 %

COR opened at $234.53 on Wednesday. The company’s 50 day simple moving average is $234.52 and its two-hundred day simple moving average is $233.26. The firm has a market capitalization of $46.78 billion, a price-to-earnings 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. Cencora, Inc. has a 1-year low of $177.00 and a 1-year high of $247.66.

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, topping analysts’ consensus estimates 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 net margin of 0.65% and a return on equity of 266.60%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.92 EPS. Analysts expect that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. Cencora’s dividend payout ratio is currently 22.32%.

Wall Street Analysts Forecast Growth

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

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.