NewEdge Advisors LLC Has $50.15 Million Stock Position in Cencora, Inc. (NYSE:COR)

NewEdge Advisors LLC cut its stake in shares of Cencora, Inc. (NYSE:COR) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 222,606 shares of the company’s stock after selling 2,008 shares during the quarter. NewEdge Advisors LLC’s holdings in Cencora were worth $50,153,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Cencora in the first quarter valued at $25,000. New Millennium Group LLC acquired a new stake in Cencora in the second quarter valued at $26,000. Legacy Bridge LLC bought a new position in shares of Cencora in the 1st quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora during the 1st quarter worth about $29,000. Finally, TFO Wealth Partners LLC bought a new stake in shares of Cencora in the 1st quarter valued at about $30,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COR shares. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective 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. Wells Fargo & Company lifted 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. Finally, Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Cencora Stock Up 0.5 %

Shares of COR opened at $224.92 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $44.86 billion, a PE ratio of 24.61, a P/E/G ratio of 1.58 and a beta of 0.44. The firm’s 50 day moving average is $234.96 and its 200-day moving average is $232.73. Cencora, Inc. has a 12 month low of $178.21 and a 12 month high of $247.66.

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

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s payout ratio is 22.32%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. Company insiders own 15.80% of the company’s stock.

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.