Hudson Edge Investment Partners Inc. Sells 1,810 Shares of Cencora, Inc. $COR

Hudson Edge Investment Partners Inc. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,000 shares of the company’s stock after selling 1,810 shares during the period. Cencora accounts for approximately 1.2% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 17th biggest holding. Hudson Edge Investment Partners Inc.’s holdings in Cencora were worth $6,897,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Voleon Capital Management LP acquired a new position in Cencora in the first quarter valued at approximately $3,111,000. Exchange Traded Concepts LLC raised its position in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after acquiring an additional 48 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Cencora by 25.8% in the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after purchasing an additional 1,171 shares during the period. Fiduciary Alliance LLC acquired a new position in shares of Cencora in the 2nd quarter valued at $262,000. Finally, Martin Capital Partners LLC boosted its position in shares of Cencora by 205.2% in the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock worth $1,135,000 after purchasing an additional 2,544 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent analyst reports. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Stock Performance

COR stock opened at $308.89 on Friday. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $315.23. 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 firm has a market cap of $59.89 billion, a PE ratio of 31.78, a P/E/G ratio of 1.46 and a beta of 0.63. The business’s 50-day moving average price is $294.44 and its two-hundred day moving average price is $289.82.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued 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 dividend payout ratio (DPR) is 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.