Logan Capital Management Inc. Lowers Stock Position in Cencora, Inc. $COR

Logan Capital Management Inc. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 16.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 15,942 shares of the company’s stock after selling 3,048 shares during the quarter. Logan Capital Management Inc.’s holdings in Cencora were worth $4,433,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. MBB Public Markets I LLC purchased a new stake in shares of Cencora during the 1st quarter valued at $333,000. Ascent Group LLC lifted its holdings in shares of Cencora by 42.7% during the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock valued at $3,500,000 after acquiring an additional 3,764 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Cencora by 107.3% during the 1st quarter. Meiji Yasuda Life Insurance Co now owns 2,394 shares of the company’s stock valued at $666,000 after acquiring an additional 1,239 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Cencora during the 1st quarter valued at $1,066,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Cencora by 370.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,683 shares of the company’s stock valued at $6,864,000 after acquiring an additional 19,438 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of Cencora stock opened at $298.64 on Wednesday. The firm has a market cap of $57.90 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The firm’s 50-day simple moving average is $292.87 and its 200-day simple moving average is $284.65. 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, Inc. has a 1 year low of $218.65 and a 1 year 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, beating analysts’ consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.34 EPS. Equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were 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 of the company’s stock, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company’s stock, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,125 shares of company stock worth $9,993,789. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Jefferies Financial Group lifted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $311.25.

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.