Swedbank AB Increases Stake in Cencora, Inc. (NYSE:COR)

Swedbank AB increased its position in shares of Cencora, Inc. (NYSE:COR) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,363,345 shares of the company’s stock after buying an additional 44,464 shares during the quarter. Swedbank AB’s holdings in Cencora were worth $307,162,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $25,000. Legacy Bridge LLC purchased a new position in Cencora in the first quarter valued at $27,000. TCTC Holdings LLC acquired a new stake in Cencora in the first quarter valued at $29,000. TFO Wealth Partners LLC purchased a new stake in Cencora during the 1st quarter worth about $30,000. Finally, LRI Investments LLC purchased a new stake in Cencora during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity at Cencora

In related news, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Dermot Mark Durcan purchased 500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders sold 6,338,756 shares of company stock worth $1,476,658,274 over the last 90 days. Company insiders own 15.80% of the company’s stock.

Cencora Stock Performance

COR traded up $1.44 during trading on Friday, hitting $238.11. The stock had a trading volume of 1,012,252 shares, compared to its average volume of 1,384,765. The firm has a market capitalization of $47.49 billion, a P/E ratio of 25.97, a PEG ratio of 1.68 and a beta of 0.45. The company’s 50-day moving average price is $231.14 and its 200 day moving average price is $232.42. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66.

Cencora (NYSE:COR) last announced 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. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.92 EPS. On average, equities research analysts forecast that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analyst Upgrades and Downgrades

COR has been the subject of several recent analyst reports. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target 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. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. SVB Leerink reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Citigroup raised their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.57.

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.