Silvant Capital Management LLC Decreases Stock Holdings in Cencora, Inc. $COR

Silvant Capital Management LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 8.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,898 shares of the company’s stock after selling 3,112 shares during the quarter. Silvant Capital Management LLC’s holdings in Cencora were worth $10,282,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of COR. Mirae Asset Global Investments Co. Ltd. raised its stake in Cencora by 13.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company’s stock worth $15,086,000 after purchasing an additional 5,543 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Cencora in the 3rd quarter worth $26,191,000. Mediolanum International Funds Ltd increased its stake in Cencora by 133.0% during the third quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company’s stock worth $17,342,000 after acquiring an additional 32,138 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cencora by 40.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company’s stock valued at $5,407,000 after acquiring an additional 4,973 shares during the period. Finally, Chilton Investment Co. Inc. purchased a new stake in shares of Cencora in the third quarter worth about $459,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,677 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $345.00, for a total transaction of $578,565.00. Following the sale, the executive vice president owned 18,796 shares in the company, valued at $6,484,620. This represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,220 shares of company stock valued at $5,282,867 in the last quarter. 0.38% of the stock is currently owned by insiders.

Cencora Trading Down 3.2%

Shares of COR opened at $334.69 on Wednesday. The stock’s fifty day simple moving average is $355.45 and its 200-day simple moving average is $339.50. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The firm has a market capitalization of $65.11 billion, a PE ratio of 40.23, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68. Cencora, Inc. has a 12-month low of $260.23 and a 12-month high of $377.54.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the prior year, the firm earned $3.73 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company upped their target price on Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Morgan Stanley set a $380.00 target price on Cencora in a research note on Tuesday. Finally, Robert W. Baird set a $415.00 price objective on shares of Cencora in a research note on Tuesday, January 13th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $403.17.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.