Cencora, Inc. (NYSE:COR) is Mattern Capital Management LLC’s 10th Largest Position

Mattern Capital Management LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,605 shares of the company’s stock after selling 408 shares during the quarter. Cencora makes up 1.5% of Mattern Capital Management LLC’s holdings, making the stock its 10th largest holding. Mattern Capital Management LLC’s holdings in Cencora were worth $11,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COR. Rise Advisors LLC purchased a new position in Cencora in the 1st quarter worth about $25,000. New Millennium Group LLC bought a new position in Cencora in the 2nd quarter worth about $26,000. Legacy Bridge LLC purchased a new position in shares of Cencora during the first quarter worth approximately $27,000. TCTC Holdings LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $30,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird raised their target price on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.63.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is currently owned by corporate insiders.

Cencora Stock Down 0.1 %

NYSE:COR opened at $243.36 on Thursday. The company’s 50-day simple moving average is $232.08 and its 200-day simple moving average is $233.16. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $247.66. The stock has a market capitalization of $48.54 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.57 and a beta of 0.45.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same period in the previous year, the company earned $2.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Cencora Profile

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.