Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 33.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,375 shares of the company's stock after acquiring an additional 6,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cencora were worth $6,160,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Cencora during the first quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Cencora during the second quarter valued at $26,000. TCTC Holdings LLC bought a new position in shares of Cencora during the first quarter valued at $29,000. TFO Wealth Partners LLC bought a new position in shares of Cencora during the first quarter valued at $30,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Cencora during the second quarter valued at $30,000. 97.52% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on COR shares. Bank of America restated a "neutral" rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI dropped their price objective on Cencora from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday. Robert W. Baird dropped their price objective on Cencora from $287.00 to $283.00 and set an "outperform" rating on the stock in a research report on Friday, September 6th. Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Finally, StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $259.44.
Get Our Latest Report on Cencora
Insider Activity
In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company's stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company's stock, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. Corporate insiders own 15.80% of the company's stock.
Cencora Stock Performance
NYSE:COR traded up $0.36 on Friday, hitting $222.56. The stock had a trading volume of 938,026 shares, compared to its average volume of 1,413,334. The stock has a market cap of $44.39 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The business's 50-day simple moving average is $232.97 and its two-hundred day simple moving average is $231.40. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66.
Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts' consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm had revenue of $74.20 billion for the quarter, compared to analysts' expectations of $73.32 billion. During the same period in the previous year, the firm earned $2.92 EPS. The business's quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.
Cencora Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. Cencora's payout ratio is currently 22.32%.
Cencora Profile
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Free Report)
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.
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