Lmcg Investments LLC Lowers Position in Cencora, Inc. (NYSE:COR)

Lmcg Investments LLC reduced its stake in Cencora, Inc. (NYSE:COR) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,202 shares of the company’s stock after selling 99 shares during the period. Lmcg Investments LLC’s holdings in Cencora were worth $947,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COR. Vanguard Group Inc. purchased a new stake in shares of Cencora in the 4th quarter valued at approximately $4,212,508,000. Price T Rowe Associates Inc. MD acquired a new stake in Cencora in the 1st quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in Cencora in the first quarter valued at approximately $1,199,695,000. Boston Partners acquired a new position in Cencora during the first quarter worth $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in shares of Cencora during the first quarter worth $650,424,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COR shares. Robert W. Baird decreased their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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 cap of $46.78 billion, a P/E ratio of 25.66, a PEG ratio of 1.55 and a beta of 0.44. The firm has a fifty day moving average price of $234.52 and a 200 day moving average price of $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, Inc. has a 12 month low of $177.00 and a 12 month high of $247.66.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued 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 0.87%. Cencora’s payout ratio is currently 22.32%.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly 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 at this link. In related news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of Cencora 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 transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by 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.