Cencora, Inc. $COR Shares Purchased by PDT Partners LLC

PDT Partners LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 131.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,132 shares of the company’s stock after acquiring an additional 13,698 shares during the quarter. Cencora accounts for 0.5% of PDT Partners LLC’s portfolio, making the stock its 26th largest position. PDT Partners LLC’s holdings in Cencora were worth $6,711,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the period. Wellington Management Group LLP increased its position in Cencora by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after acquiring an additional 363,402 shares during the period. Boston Partners increased its position in Cencora by 8.1% in the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock valued at $1,505,984,000 after acquiring an additional 404,093 shares during the period. Bank of America Corp DE increased its position in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after acquiring an additional 1,994,256 shares during the period. Finally, Invesco Ltd. increased its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on COR. Robert W. Baird raised their target price on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Wells Fargo & Company increased their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $311.25.

Cencora Stock Performance

COR opened at $291.51 on Monday. The firm has a market cap of $56.52 billion, a PE ratio of 29.99, a P/E/G ratio of 1.38 and a beta of 0.62. 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 business has a fifty day simple moving average of $293.02 and a 200-day simple moving average of $282.41. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $3.34 EPS. As a group, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Insider Buying and Selling at Cencora

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

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.