ProVise Management Group LLC Sells 480 Shares of Cencora, Inc. (NYSE:COR)

ProVise Management Group LLC lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,445 shares of the company’s stock after selling 480 shares during the quarter. ProVise Management Group LLC’s holdings in Cencora were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $25,000. Legacy Bridge LLC purchased a new position in Cencora during the first quarter valued at $27,000. New Millennium Group LLC bought a new stake in Cencora in the 2nd quarter valued at $26,000. TCTC Holdings LLC bought a new stake in Cencora in the 1st quarter valued at $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in Cencora in the 1st quarter worth $30,000. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Leerink Partners reiterated an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three investment 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, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.67.

Cencora Trading Down 0.8 %

COR stock opened at $226.56 on Friday. Cencora, Inc. has a twelve month low of $178.21 and a twelve month high of $247.66. The stock has a market capitalization of $45.19 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm’s fifty day simple moving average is $234.73 and its two-hundred day simple moving average is $233.18.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for 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 firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.92 EPS. As a group, analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction 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 sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s 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 transaction, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock worth $1,070,392,799 in the last quarter. 15.80% of the stock is owned by company insiders.

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.