Cencora, Inc. $COR Shares Purchased by Tevis Investment Management

Tevis Investment Management lifted its position in Cencora, Inc. (NYSE:COR) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,678 shares of the company’s stock after acquiring an additional 52 shares during the period. Tevis Investment Management’s holdings in Cencora were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC increased its position in shares of Cencora by 70.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the period. Costello Asset Management INC acquired a new position in shares of Cencora in the 1st quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora in the 1st quarter valued at $39,000. Finally, Golden State Wealth Management LLC increased its position in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after acquiring an additional 104 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE:COR opened at $336.00 on Tuesday. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $336.07. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $65.14 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. The stock’s 50-day moving average price is $305.00 and its 200-day moving average price is $295.60.

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

Cencora Dividend Announcement

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

Insider Transactions at Cencora

In other news, 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 directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,665,699.60. Following the sale, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,544 shares of company stock worth $12,230,941 over the last 90 days. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on COR. Wells Fargo & Company increased their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Mizuho increased their price target on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.00.

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.