Paralel Advisors LLC Sells 2,265 Shares of Cencora, Inc. $COR

Paralel Advisors LLC lowered its holdings in Cencora, Inc. (NYSE:COR) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,354 shares of the company’s stock after selling 2,265 shares during the quarter. Paralel Advisors LLC’s holdings in Cencora were worth $2,081,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Accent Capital Management LLC increased its stake in shares of Cencora by 36.1% in the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. MCF Advisors LLC lifted its position in Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC lifted its position in Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after purchasing an additional 31 shares during the period. Steph & Co. boosted its holdings in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after purchasing an additional 37 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COR shares. Robert W. Baird set a $370.00 price target on shares of Cencora in a research report on Thursday, August 6th. Wells Fargo & Company upped their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on Cencora in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 target price for the company. Finally, Morgan Stanley lifted their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Stock Down 0.1%

COR stock opened at $330.52 on Monday. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The firm has a market cap of $63.07 billion, a PE ratio of 24.56, a PEG ratio of 1.88 and a beta of 0.57. The firm’s 50 day moving average price is $312.33 and its 200-day moving average price is $309.52. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the prior year, the business posted $4.00 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora declared that its board has approved a share repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.