Meritage Portfolio Management Sells 39 Shares of Cencora, Inc. $COR

Meritage Portfolio Management decreased its position in Cencora, Inc. (NYSE:COR) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,319 shares of the company’s stock after selling 39 shares during the quarter. Meritage Portfolio Management’s holdings in Cencora were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COR. GAMMA Investing LLC raised its position in shares of Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock valued at $1,598,000 after purchasing an additional 2,087 shares during the period. Integrated Advisors Network LLC bought a new position in shares of Cencora in the first quarter valued at approximately $200,000. Simon Quick Advisors LLC raised its position in shares of Cencora by 35.8% in the first quarter. Simon Quick Advisors LLC now owns 1,274 shares of the company’s stock valued at $354,000 after purchasing an additional 336 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Cencora by 0.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 273,522 shares of the company’s stock valued at $76,063,000 after purchasing an additional 1,884 shares during the period. Finally, American Institute for Advanced Investment Management LLP bought a new position in shares of Cencora in the first quarter valued at approximately $4,068,000. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 1.2%

Shares of COR stock opened at $318.01 on Monday. The firm has a fifty day moving average of $296.99 and a 200-day moving average of $291.87. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 1.49 and a beta of 0.63. Cencora, Inc. has a 52-week low of $221.95 and a 52-week high of $319.68. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last issued its earnings results 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 business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period in the previous year, the business earned $3.34 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share 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. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is 22.63%.

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The shares were 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 approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of 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 target price on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 target price on shares of Cencora in a research report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $320.00.

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.