Swiss National Bank Sells 26,900 Shares of Cencora, Inc. $COR

Swiss National Bank lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,700 shares of the company’s stock after selling 26,900 shares during the quarter. Swiss National Bank’s holdings in Cencora were worth $165,860,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of Cencora in the 2nd quarter worth $695,215,000. Mizuho Markets Americas LLC lifted its position in shares of Cencora by 116.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 212,800 shares of the company’s stock worth $66,506,000 after buying an additional 1,511,906 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Cencora in the 2nd quarter worth approximately $411,888,000. Vanguard Group Inc. boosted its stake in shares of Cencora by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock worth $6,740,340,000 after buying an additional 1,125,661 shares during the last quarter. Finally, Viking Global Investors LP grew its holdings in shares of Cencora by 95.0% in the second quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock valued at $624,207,000 after acquiring an additional 1,013,913 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the transaction, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,220 shares of company stock worth $5,282,867. Corporate insiders own 0.38% of the company’s stock.

Cencora Price Performance

COR stock opened at $361.80 on Tuesday. The firm has a 50 day moving average of $354.60 and a 200-day moving average of $337.09. The firm has a market capitalization of $70.38 billion, a P/E ratio of 43.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.68. Cencora, Inc. has a 12 month low of $251.94 and a 12 month high of $377.54. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping 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 business had revenue of $85.93 billion for the quarter, compared to analyst estimates of $86.12 billion. During the same quarter in the prior year, the firm 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 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 28.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COR. TD Cowen lifted their price target on Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Evercore decreased their target price on Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Finally, Barclays boosted their price target on shares of Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $399.00.

Cencora Profile

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.