Cencora, Inc. $COR Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Cencora, Inc. by 5.8%, selling 85,936 shares and owning approximately 0.72% of the company worth $419.8 million as of the latest SEC filing.
• Institutional investors and hedge funds now hold 97.52% of Cencora's stock, with notable increases from firms like GAMMA Investing LLC and T. Rowe Price Investment Management.
• Cencora reported earnings of $4.00 per share for the last quarter, exceeding expectations, with revenue reaching $80.66 billion, marking an 8.7% increase year-over-year.

Swedbank AB cut its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,399,926 shares of the company's stock after selling 85,936 shares during the period. Swedbank AB owned approximately 0.72% of Cencora worth $419,768,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after acquiring an additional 1,594,800 shares in the last quarter. Invesco Ltd. raised its stake in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock valued at $277,321,000 after purchasing an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after purchasing an additional 787,858 shares during the period. Finally, Nuveen LLC acquired a new position in Cencora during the 1st quarter worth $181,284,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,968 shares of the business'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 value of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock valued at $9,993,789. Insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cencora Stock Down 0.4%

Cencora stock opened at $288.82 on Thursday. The stock's 50 day moving average price is $292.65 and its 200 day moving average price is $286.31. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a market cap of $56.00 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.38 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 (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. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared 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 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is 22.63%.

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.

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