Marvin & Palmer Associates Inc. Acquires Shares of 10,097 Cencora, Inc. $COR

Marvin & Palmer Associates Inc. bought a new position in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,097 shares of the company’s stock, valued at approximately $3,411,000. Cencora makes up about 3.0% of Marvin & Palmer Associates Inc.’s portfolio, making the stock its 13th biggest position.

Other institutional investors have also made changes to their positions in the company. IAG Wealth Partners LLC bought a new position in Cencora during the third quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its stake in Cencora by 69.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Cencora during the third quarter valued at $31,000. Caitlin John LLC acquired a new stake in shares of Cencora during the third quarter worth $31,000. Finally, Westside Investment Management Inc. raised its holdings in shares of Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after purchasing an additional 70 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,677 shares of Cencora stock in a transaction 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 of the company’s stock, valued at $6,484,620. The trade was a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,220 shares of company stock valued at $5,282,867 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Cencora Stock Down 0.4%

COR stock opened at $357.98 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a fifty-two week low of $251.94 and a fifty-two week high of $377.54. The firm’s 50-day simple moving average is $354.16 and its 200 day simple moving average is $336.45. The stock has a market cap of $69.64 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.67 and a beta of 0.68.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $86.12 billion. During the same period in the previous year, the business posted $3.73 EPS. Cencora’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given 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 0.7%. Cencora’s payout ratio is currently 28.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COR. Evercore decreased their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group upgraded shares of Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. TD Cowen upped their target price on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Wells Fargo & Company increased their price target on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.00.

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.