Cencora, Inc. $COR Shares Acquired by Avanza Fonder AB

Key Points

• Avanza Fonder AB has increased its stake in Cencora, Inc. by 10.0%, now holding 20,051 shares valued at approximately $6 million.
• Cencora's stock recently experienced a 0.2% decline, with an opening price of $290.32, while the company reported a net margin of 0.60% and earnings per share of $4.00 for the last quarter.
• Insiders have sold a total of 65,475 shares worth approximately $19 million over the last quarter, indicating significant activity from Cencora's upper management.

Avanza Fonder AB raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,051 shares of the company's stock after acquiring an additional 1,827 shares during the quarter. Avanza Fonder AB's holdings in Cencora were worth $6,012,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased 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 acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC acquired a new stake in Cencora in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cencora in the 1st quarter valued at about $39,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Cencora during the fourth quarter worth approximately $38,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,475 shares of company stock valued at $19,080,900. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of COR stock traded down $0.52 during mid-day trading on Friday, hitting $290.32. The stock had a trading volume of 7,182,669 shares, compared to its average volume of 1,681,896. The company's 50-day simple moving average is $292.42 and its 200-day simple moving average is $287.29. The firm has a market cap of $56.29 billion, a PE ratio of 29.87, a PEG ratio of 1.48 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued 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. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 earnings per share. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio is 22.63%.

Wall Street Analyst Weigh In

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

Cencora 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.