Massachusetts Financial Services Co. MA Sells 12,094 Shares of Cencora, Inc. (NYSE:COR)

Massachusetts Financial Services Co. MA cut its position in Cencora, Inc. (NYSE:COR) by 1.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,191,661 shares of the company’s stock after selling 12,094 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.60% of Cencora worth $268,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. purchased a new stake in shares of Cencora during the fourth quarter worth about $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in Cencora during the 1st quarter worth approximately $1,199,695,000. Boston Partners acquired a new position in Cencora during the 1st quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in shares of Cencora in the first quarter worth $650,424,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. In the last three months, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cencora Stock Performance

Shares of COR stock opened at $234.53 on Wednesday. The company has a market capitalization of $46.78 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 12-month low of $177.00 and a 12-month high of $247.66. The business’s 50 day moving average is $234.52 and its two-hundred day moving average is $233.26. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm 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%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company 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 disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 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.