Convergence Investment Partners LLC Sells 1,452 Shares of Cencora, Inc. $COR

Convergence Investment Partners LLC decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,294 shares of the company’s stock after selling 1,452 shares during the period. Convergence Investment Partners LLC’s holdings in Cencora were worth $1,588,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC boosted its holdings in Cencora by 3.4% during the second quarter. Ashton Thomas Private Wealth LLC now owns 5,772 shares of the company’s stock worth $1,731,000 after purchasing an additional 191 shares during the last quarter. Resonant Capital Advisors LLC acquired a new position in Cencora during the second quarter worth $274,000. Wealthfront Advisers LLC boosted its holdings in Cencora by 5.0% during the second quarter. Wealthfront Advisers LLC now owns 30,826 shares of the company’s stock worth $9,243,000 after purchasing an additional 1,456 shares during the last quarter. Optimum Investment Advisors acquired a new position in Cencora during the second quarter worth $75,000. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in Cencora by 50.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 210 shares of the company’s stock worth $63,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction dated 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 sale, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,544 shares of company stock valued at $12,230,941. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Wells Fargo & Company increased their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Mizuho increased their price target on shares of Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $324.91.

Cencora Stock Performance

NYSE COR opened at $333.02 on Monday. The firm has a 50-day moving average of $304.09 and a 200-day moving average of $295.16. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market cap of $64.56 billion, a PE ratio of 34.26, a P/E/G ratio of 1.55 and a beta of 0.63. Cencora, Inc. has a 52-week low of $223.92 and a 52-week high of $334.34.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 EPS. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

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.