Cencora, Inc. $COR Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG significantly increased its holdings in Cencora, Inc. (420.2%) during Q2, owning 56,023 shares valued at $16.8 million.
• Insider trading activity saw CEO Robert P. Mauch and Chairman Steven H. Collis selling shares, reducing their stakes by 11.49% and 9.30%, respectively.
• Cencora reported Q2 earnings of $4.00 per share, exceeding estimates and indicating a revenue increase of 8.7% compared to the previous year.

J. Safra Sarasin Holding AG raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 420.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,023 shares of the company's stock after purchasing an additional 45,254 shares during the period. J. Safra Sarasin Holding AG's holdings in Cencora were worth $16,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COR. Net Worth Advisory Group raised its holdings in Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after acquiring an additional 36 shares in the last quarter. Obermeyer Wealth Partners raised its stake in shares of Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after purchasing an additional 36 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Cencora by 4.3% in the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after purchasing an additional 36 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Cencora by 0.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock worth $2,563,000 after purchasing an additional 38 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after purchasing an additional 39 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at $11,389,460. The trade was a 11.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,993 shares of company stock worth $16,292,923. Corporate insiders own 10.80% of the company's stock.

Cencora Trading Down 0.9%

NYSE:COR opened at $308.89 on Friday. The firm has a market capitalization of $59.89 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.46 and a beta of 0.63. The business has a 50 day simple moving average of $294.44 and a 200 day simple moving average of $289.82. 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 12-month low of $218.65 and a 12-month high of $315.23.

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

Cencora Dividend Announcement

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

Cencora Company 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.

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