Cencora, Inc. $COR Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA reduced its holdings in Cencora, Inc. (NYSE:COR) by 64.3%, now owning 1,610 shares valued at approximately $477,000.
• Cencora reported a quarterly earnings per share (EPS) of $4.00, surpassing analysts' expectations and showing an 8.7% year-over-year revenue increase.
• Institutional investors hold 97.52% of Cencora's stock, indicating a strong interest within the investment community, with multiple firms, including Invesco Ltd. and T. Rowe Price, increasing their stakes significantly.

Union Bancaire Privee UBP SA cut its position in Cencora, Inc. (NYSE:COR - Free Report) by 64.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,610 shares of the company's stock after selling 2,894 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Cencora were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of COR. Invesco Ltd. grew 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 buying an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 worth $277,321,000 after acquiring an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $2,682,821,000 after acquiring an additional 787,858 shares in the last quarter. Nuveen LLC acquired a new position in shares of Cencora in the first quarter worth $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company's stock worth $206,641,000 after acquiring an additional 439,008 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Cencora stock opened at $311.92 on Thursday. The stock has a market cap of $60.48 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.63. The company has a fifty day simple moving average of $294.07 and a 200-day simple moving average of $289.49. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $315.23. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.34 EPS. Equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is 22.63%.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated 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 sale, the chairman owned 305,913 shares in the company, 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. Over the last three months, insiders sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities 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 research note on Wednesday, July 16th. Wells Fargo & Company boosted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price target 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. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

About Cencora

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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