Cencora, Inc. $COR Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Cencora, Inc. by 0.5%, owning approximately 0.85% of the company, valued at $460.83 million after acquiring additional shares.
• Wall Street analysts have given Cencora a consensus rating of "Moderate Buy" with a target price of $311.25, reflecting optimism about the company's growth prospects.
• Cencora reported a quarterly EPS of $4.00, surpassing estimates, with a year-over-year revenue increase of 8.7%, indicating strong financial performance.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,657,123 shares of the company's stock after buying an additional 8,672 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.85% of Cencora worth $460,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC grew its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the first quarter worth about $28,000. Costello Asset Management INC acquired a new position in shares of Cencora during the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora during the first quarter worth about $39,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Cencora during the fourth quarter worth about $38,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Down 1.8%

NYSE COR traded down $5.52 during trading hours on Monday, hitting $297.00. 439,225 shares of the company's stock were exchanged, compared to its average volume of 1,542,786. The business's 50 day moving average is $293.24 and its 200-day moving average is $286.00. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The firm has a market capitalization of $57.58 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the business posted $3.34 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COR. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $311.25.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,125 shares of company stock valued at $9,993,789. Insiders own 10.80% of the company's stock.

About Cencora

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.