Cencora, Inc. $COR Shares Sold by Eads & Heald Wealth Management

Eads & Heald Wealth Management reduced its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,605 shares of the company’s stock after selling 603 shares during the quarter. Cencora makes up 1.4% of Eads & Heald Wealth Management’s investment portfolio, making the stock its 15th biggest holding. Eads & Heald Wealth Management’s holdings in Cencora were worth $2,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Valeo Financial Advisors LLC raised its holdings in Cencora by 6.1% during the second quarter. Valeo Financial Advisors LLC now owns 2,270 shares of the company’s stock worth $681,000 after purchasing an additional 130 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Cencora by 6.2% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 44,209 shares of the company’s stock valued at $13,256,000 after buying an additional 2,586 shares in the last quarter. Marks Group Wealth Management Inc purchased a new position in Cencora during the 2nd quarter valued at about $201,000. Grimes & Company Inc. raised its position in shares of Cencora by 3.6% during the 2nd quarter. Grimes & Company Inc. now owns 1,272 shares of the company’s stock worth $381,000 after purchasing an additional 44 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Cencora by 34.8% in the second quarter. Merit Financial Group LLC now owns 13,141 shares of the company’s stock worth $3,940,000 after acquiring an additional 3,392 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on COR. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research note on Saturday, September 27th. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $311.25.

Cencora Stock Down 2.0%

Shares of NYSE:COR opened at $302.54 on Monday. The company has a market cap of $58.66 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. The firm has a 50 day simple moving average of $294.68 and a 200 day simple moving average of $290.41. 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 52 week low of $218.65 and a 52 week high of $315.23.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating 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 firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the business earned $3.34 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is currently 22.63%.

About Cencora

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.