Intech Investment Management LLC Reduces Holdings in Cencora, Inc. $COR

Intech Investment Management LLC decreased its position in shares of Cencora, Inc. (NYSE:COR) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,144 shares of the company’s stock after selling 14,483 shares during the period. Intech Investment Management LLC’s holdings in Cencora were worth $9,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Cencora in the first quarter worth approximately $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora in the first quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Cencora during the 4th quarter valued at $38,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Cencora in the 1st quarter valued at $39,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on COR. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised 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. Finally, Wells Fargo & Company boosted their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $311.25.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the transaction, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $296.38 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock’s fifty day moving average price is $292.98 and its 200-day moving average price is $284.73. The firm has a market cap of $57.46 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.42 and a beta of 0.62. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping 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 company had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the prior year, the business earned $3.34 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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