Transcend Capital Advisors LLC Trims Stock Holdings in Cencora, Inc. $COR

Transcend Capital Advisors LLC trimmed its holdings in Cencora, Inc. (NYSE:COR) by 4.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,397 shares of the company’s stock after selling 727 shares during the period. Transcend Capital Advisors LLC’s holdings in Cencora were worth $4,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Cencora by 70.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after buying an additional 35 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares during the period. Costello Asset Management INC purchased a new stake in shares of Cencora in the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the first quarter worth approximately $39,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 1.4%

Shares of NYSE COR opened at $333.02 on Monday. 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 has a market capitalization of $64.56 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. The stock’s fifty day simple moving average is $304.09 and its two-hundred day simple moving average is $295.16. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $334.34.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 EPS. As a group, analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI set a $340.00 price target on Cencora in a report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Mizuho raised their price objective on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.91.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction 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 sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,544 shares of company stock valued at $12,230,941 in the last three months. Insiders own 10.80% of the company’s stock.

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.