Livforsakringsbolaget Skandia Omsesidigt Takes $17.57 Million Position in Cencora, Inc. $COR

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 62,075 shares of the company’s stock, valued at approximately $17,566,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora during the fourth quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in shares of Cencora during the fourth quarter worth about $27,000. Elevation Wealth Partners LLC lifted its stake in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Archer Investment Corp lifted its stake in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 47 shares in the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in Cencora in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

Cencora Stock Up 0.3%

NYSE:COR opened at $322.12 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The stock has a 50-day simple moving average of $307.38 and a 200 day simple moving average of $310.88.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 earnings per share. Cencora’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its Board of Directors has approved a stock buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Analysts Set New Price Targets

COR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays cut their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, UBS Group lifted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

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.