Livforsakringsbolaget Skandia Omsesidigt Has $562,000 Stake in Cencora, Inc. $COR

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Cencora, Inc. by 95.2% during the second quarter, selling 37,000 shares down to 1,875 shares, with a value of approximately $562,000.
• Cencora reported an EPS of $4.00 for the quarter, exceeding analysts' expectations of $3.79, while the company's revenue increased by 8.7% year-over-year, reaching $80.66 billion.
• The company announced a quarterly dividend of $0.55, representing a 0.8% yield, and has a payout ratio of 22.63%.

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Cencora, Inc. (NYSE:COR - Free Report) by 95.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,875 shares of the company's stock after selling 37,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cencora were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Voleon Capital Management LP acquired a new position in Cencora in the 1st quarter valued at $3,111,000. Exchange Traded Concepts LLC lifted its holdings in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after acquiring an additional 48 shares during the period. Focus Partners Wealth lifted its holdings in shares of Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock worth $1,589,000 after acquiring an additional 1,171 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Cencora by 42.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,008 shares of the company's stock worth $2,227,000 after acquiring an additional 2,389 shares during the period. Finally, Ascent Group LLC lifted its holdings in shares of Cencora by 42.7% during the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company's stock worth $3,500,000 after acquiring an additional 3,764 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

NYSE COR traded down $0.52 on Friday, hitting $290.32. 7,182,669 shares of the stock were exchanged, compared to its average volume of 1,405,903. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The business's fifty day moving average is $292.42 and its 200 day moving average is $287.06. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a market capitalization of $56.29 billion, a PE ratio of 29.87, a P/E/G ratio of 1.38 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. 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 previous year, the company earned $3.34 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed 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 was Friday, August 15th. Cencora's payout ratio is currently 22.63%.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company'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 completion of the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,475 shares of company stock worth $19,080,900. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

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

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.