Cencora, Inc. (NYSE:COR) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,798 shares of the company’s stock after selling 408 shares during the period. Cencora makes up 1.8% of Isthmus Partners LLC’s portfolio, making the stock its 14th biggest holding. Isthmus Partners LLC’s holdings in Cencora were worth $14,783,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Cencora during the 4th quarter worth about $322,460,000. Wellington Management Group LLP lifted its position in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the period. Amundi lifted its position in Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after purchasing an additional 314,846 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after acquiring an additional 308,773 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on COR shares. Mizuho assumed coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI boosted their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of Cencora from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Trading Up 0.3 %

Shares of COR opened at $254.54 on Monday. The stock’s fifty day simple moving average is $244.34 and its 200-day simple moving average is $238.39. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market capitalization of $49.36 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is presently 31.29%.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,648 shares of company stock valued at $2,862,342. 10.80% of the stock is owned by corporate insiders.

About Cencora

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.