Synergy Asset Management LLC Cuts Stake in Cencora, Inc. $COR

Synergy Asset Management LLC trimmed its stake in Cencora, Inc. (NYSE:COR) by 49.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,393 shares of the company’s stock after selling 15,900 shares during the quarter. Synergy Asset Management LLC’s holdings in Cencora were worth $5,537,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Cencora by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 23,395,547 shares of the company’s stock worth $7,311,810,000 after buying an additional 916,506 shares during the last quarter. State Street Corp boosted its holdings in Cencora by 9.3% in the third quarter. State Street Corp now owns 9,190,316 shares of the company’s stock valued at $2,872,249,000 after acquiring an additional 782,911 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cencora by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company’s stock valued at $1,461,965,000 after acquiring an additional 821,098 shares during the period. Boston Partners grew its position in Cencora by 2.0% during the third quarter. Boston Partners now owns 4,509,165 shares of the company’s stock valued at $1,409,152,000 after acquiring an additional 89,506 shares during the period. Finally, Wellington Management Group LLP increased its stake in Cencora by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company’s stock worth $1,241,094,000 after acquiring an additional 115,278 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COR shares. Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Morgan Stanley set a $380.00 price objective on shares of Cencora in a research note on Tuesday, March 17th. Wells Fargo & Company increased their price objective on shares of Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Evercore reissued an “outperform” rating on shares of Cencora in a research note on Tuesday, March 17th. Finally, Barclays lifted their target price on shares of Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $403.17.

Cencora Stock Performance

Cencora stock opened at $318.00 on Friday. The stock’s 50 day moving average price is $352.91 and its 200 day moving average price is $340.41. The firm has a market capitalization of $61.86 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a one year low of $267.40 and a one year high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (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 company had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter last year, the company earned $3.73 earnings per share. Cencora’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is currently 28.85%.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of Cencora 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 directly owned 66,726 shares in the company, valued at $23,669,713.98. The trade was a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

Cencora Profile

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.