Isthmus Partners LLC Sells 43 Shares of Cencora, Inc. (NYSE:COR)

Isthmus Partners LLC lowered its position in Cencora, Inc. (NYSE:COR) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,206 shares of the company’s stock after selling 43 shares during the period. Cencora comprises about 1.8% of Isthmus Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Isthmus Partners LLC’s holdings in Cencora were worth $14,902,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kingswood Wealth Advisors LLC bought a new stake in shares of Cencora in the second quarter worth $655,000. Czech National Bank grew its holdings in shares of Cencora by 8.3% in the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Cencora by 9.9% in the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after acquiring an additional 7,266 shares during the period. Portfolio Design Labs LLC bought a new stake in Cencora during the third quarter valued at about $1,404,000. Finally, HM Payson & Co. bought a new stake in Cencora during the first quarter valued at about $708,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 93,018 shares of company stock valued at $22,478,942. Insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on COR. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America reissued a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird boosted their price target on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Price Performance

Shares of Cencora stock opened at $249.69 on Friday. The stock has a 50 day moving average of $234.44 and a 200 day moving average of $232.26. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56. The firm has a market cap of $49.20 billion, a PE ratio of 33.25, a PEG ratio of 1.63 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. Cencora’s dividend payout ratio is presently 29.29%.

Cencora Company 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.