Bartlett & CO. Wealth Management LLC Trims Holdings in Cencora, Inc. $COR

Bartlett & CO. Wealth Management LLC trimmed its holdings in Cencora, Inc. (NYSE:COR) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 4,582 shares of the company’s stock after selling 66 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Cencora were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Voleon Capital Management LP purchased a new position in shares of Cencora during the first quarter valued at approximately $3,111,000. Exchange Traded Concepts LLC raised its stake in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after buying an additional 48 shares during the last quarter. Focus Partners Wealth boosted its holdings in Cencora by 25.8% in the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock worth $1,589,000 after acquiring an additional 1,171 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Cencora in the second quarter worth $262,000. Finally, Martin Capital Partners LLC grew its stake in shares of Cencora by 205.2% in the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock worth $1,135,000 after acquiring an additional 2,544 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $311.25.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of NYSE COR opened at $311.92 on Thursday. The firm’s 50-day moving average price is $294.07 and its 200-day moving average price is $289.49. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $315.23. The company has a market cap of $60.48 billion, a PE ratio of 32.09, a PEG ratio of 1.59 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the previous year, the company earned $3.34 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

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.