Seven Eight Capital LP Sells 21,159 Shares of Cencora, Inc. (NYSE:COR)

Seven Eight Capital LP lowered its stake in Cencora, Inc. (NYSE:COR) by 71.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,435 shares of the company’s stock after selling 21,159 shares during the period. Seven Eight Capital LP’s holdings in Cencora were worth $1,900,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on COR shares. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Leerink Partners restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

Insider Transactions at Cencora

In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora 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 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last ninety days. 15.80% of the stock is owned by insiders.

Cencora Trading Down 2.6 %

COR opened at $228.48 on Thursday. 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 fifty-two week low of $178.21 and a fifty-two week high of $247.66. The company’s 50 day moving average price is $234.64 and its two-hundred day moving average price is $233.23. The firm has a market capitalization of $45.57 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.92 earnings per share. As a group, research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. Cencora’s payout ratio is 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.