Danske Bank A S Invests $76.71 Million in Cencora, Inc. $COR

Danske Bank A S bought a new position in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 271,081 shares of the company’s stock, valued at approximately $76,711,000. Danske Bank A S owned 0.14% of Cencora as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Accent Capital Management LLC grew its holdings in Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after acquiring an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares during the period. Steph & Co. boosted its holdings in shares of Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after purchasing an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC grew its stake in shares of Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Performance

Cencora stock opened at $316.38 on Wednesday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The stock’s 50 day simple moving average is $300.49 and its two-hundred day simple moving average is $312.40. 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 stock has a market cap of $60.37 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.80 and a beta of 0.57.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.00 EPS. As a group, analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

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

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora’s dividend payout ratio is 17.83%.

Analyst Upgrades and Downgrades

A number of research firms have commented on COR. Evercore reaffirmed an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Bank of America boosted their target price on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Morgan Stanley upped their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $374.25.

Cencora Company 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.