Edmp Inc. Has $2.99 Million Stake in Cencora, Inc. $COR

Edmp Inc. reduced its position in shares of Cencora, Inc. (NYSE:COR) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,983 shares of the company’s stock after selling 517 shares during the period. Cencora comprises about 2.5% of Edmp Inc.’s investment portfolio, making the stock its 10th biggest position. Edmp Inc.’s holdings in Cencora were worth $2,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Invesco Ltd. increased its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Cencora by 4,459.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after acquiring an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after acquiring an additional 787,858 shares in the last quarter. Nuveen LLC acquired a new stake in Cencora in the 1st quarter valued at about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Cencora by 144.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after acquiring an additional 439,008 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of COR opened at $317.24 on Tuesday. 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 twelve month low of $221.95 and a twelve month high of $319.87. The firm’s 50 day moving average price is $297.46 and its two-hundred day moving average price is $292.16. The firm has a market cap of $61.51 billion, a P/E ratio of 32.64, a PEG ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $3.34 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid 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 yield of 0.7%. Cencora’s payout ratio is presently 22.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Evercore ISI set a $340.00 price objective on shares of Cencora in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.00.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. The trade was a 11.49% 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, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. 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.

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.