Cencora, Inc. (NYSE:COR) Shares Sold by Bryn Mawr Capital Management LLC

by · The Cerbat Gem

Bryn Mawr Capital Management LLC trimmed its holdings in Cencora, Inc. (NYSE:COR – Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,787 shares of the company’s stock after selling 193 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Cencora were worth $1,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC boosted 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 valued at $26,000 after acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in shares of Cencora in the first quarter valued at approximately $28,000. Banque Transatlantique SA acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $29,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC boosted 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 valued at $47,000 after acquiring an additional 104 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Down 0.8%

Shares of COR stock opened at $294.64 on Wednesday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock has a market cap of $57.11 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.47 and a beta of 0.57. The business has a fifty day simple moving average of $292.09 and a 200-day simple moving average of $270.94. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period last year, the company earned $3.80 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. On average, 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 Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora’s payout ratio is currently 25.52%.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,127 shares of company stock worth $9,812,296. Company insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on COR. Robert W. Baird increased their price target on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $306.33.

Get Our Latest Stock Analysis on COR

Cencora Profile

(Free Report)

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.

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