Cencora, Inc. $COR Shares Purchased by Rhenman & Partners Asset Management AB

Key Points

• Rhenman & Partners boosted its holding in Cencora by 26.3%, buying 13,000 shares to own 62,375 shares worth $19.49 million, making COR its 14th-largest holding (~2.2% of the firm's portfolio).
• Quarterly results showed EPS of $4.08 (beats estimates by $0.04) and revenue of $85.93 billion (up 5.5% YoY but slightly below expectations); the company pays a $0.60 quarterly dividend (annualized yield ~0.7%) and has an analyst consensus of "Moderate Buy" with an average target of $399.
• 97.52% institutional ownership contrasts with recent insider selling—15,220 shares (~$5.28M) sold in the past three months—leaving insiders with just 0.38% of the stock.

Rhenman & Partners Asset Management AB boosted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 26.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,375 shares of the company's stock after purchasing an additional 13,000 shares during the period. Cencora comprises approximately 2.2% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 14th biggest holding. Rhenman & Partners Asset Management AB's holdings in Cencora were worth $19,494,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in COR. United Bank raised its stake in shares of Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company's stock valued at $2,109,000 after buying an additional 305 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in Cencora by 18.9% during the second quarter. Crestwood Advisors Group LLC now owns 1,376 shares of the company's stock worth $413,000 after acquiring an additional 219 shares during the period. Savant Capital LLC grew its holdings in Cencora by 8.4% during the second quarter. Savant Capital LLC now owns 8,251 shares of the company's stock worth $2,474,000 after acquiring an additional 639 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in Cencora during the second quarter valued at approximately $4,233,000. Finally, Fox Run Management L.L.C. purchased a new position in Cencora during the second quarter valued at approximately $448,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Cencora stock opened at $357.98 on Friday. The stock has a market capitalization of $69.64 billion, a P/E ratio of 43.03, a P/E/G ratio of 1.67 and a beta of 0.68. The company's fifty day moving average price is $354.16 and its 200 day moving average price is $336.45. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. Cencora, Inc. has a 1 year low of $251.94 and a 1 year high of $377.54.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $85.93 billion during the quarter, compared to analysts' expectations of $86.12 billion. During the same period in the prior year, the business posted $3.73 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora's dividend payout ratio (DPR) is currently 28.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on COR shares. Robert W. Baird set a $415.00 price objective on Cencora in a research report on Tuesday, January 13th. Evercore cut their target price on shares of Cencora from $440.00 to $420.00 and set an "outperform" rating for the company in a report on Thursday, February 5th. Barclays boosted their target price on shares of Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Bank of America lowered their price target on shares of Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $417.00 to $419.00 and gave the company an "overweight" rating in a report on Tuesday, February 10th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $399.00.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on 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 owned 66,726 shares of the company's stock, valued at $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora stock in a transaction that occurred on 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 sale, the executive vice president directly 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. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 15,220 shares of company stock worth $5,282,867. Insiders own 0.38% of the company's stock.

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.

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