Paralel Advisors LLC Sells 2,551 Shares of Cencora, Inc. (NYSE:COR)

Paralel Advisors LLC cut its position in shares of Cencora, Inc. (NYSE:COR) by 21.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,394 shares of the company’s stock after selling 2,551 shares during the quarter. Paralel Advisors LLC’s holdings in Cencora were worth $2,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Advocates Investment Management lifted its position in shares of Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after buying an additional 48 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after buying an additional 51 shares in the last quarter. Barlow Wealth Partners Inc. boosted its position in shares of Cencora by 5.4% in the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after acquiring an additional 68 shares during the period. Finally, Tevis Investment Management increased its holdings in Cencora by 4.9% during the 2nd quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock worth $333,000 after acquiring an additional 69 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by company insiders.

Cencora Trading Down 0.5 %

NYSE:COR traded down $1.27 during trading hours on Friday, reaching $234.97. The company’s stock had a trading volume of 1,831,577 shares, compared to its average volume of 1,368,321. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.57 and a beta of 0.44. The firm has a 50-day simple moving average of $232.44 and a 200-day simple moving average of $233.21. Cencora, Inc. has a 1 year low of $172.41 and a 1 year high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same period last year, the company earned $2.92 EPS. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Cencora, Inc. will post 13.61 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday. Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.13.

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.