Cencora, Inc. $COR Stock Bought by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its Cencora stake by 81.4% in the third quarter, bringing its holdings to 97,524 shares valued at approximately $29.3 million. Institutional investors own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting $4.48 in adjusted EPS versus the $4.35 consensus and $84.75 billion in revenue, up 5.1% year over year.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds, a “Moderate Buy” consensus, and an average price target of $372.07 versus the reported share price of $321.16.

Mn Services Vermogensbeheer B.V. grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 81.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,524 shares of the company's stock after purchasing an additional 43,752 shares during the quarter. Mn Services Vermogensbeheer B.V. owned approximately 0.05% of Cencora worth $29,282,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COR. Steph & Co. grew its position in shares of Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company's stock worth $53,000 after buying an additional 32 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Cencora by 1.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 2,434 shares of the company's stock valued at $760,000 after acquiring an additional 38 shares during the period. OLD National Bancorp IN boosted its stake in Cencora by 0.4% during the first quarter. OLD National Bancorp IN now owns 9,964 shares of the company's stock worth $3,130,000 after acquiring an additional 40 shares in the last quarter. Staley Capital Advisers Inc. boosted its stake in Cencora by 0.7% during the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company's stock worth $1,925,000 after acquiring an additional 40 shares in the last quarter. Finally, Elmwood Wealth Management Inc. grew its holdings in Cencora by 0.9% in the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock worth $1,221,000 after purchasing an additional 40 shares during the period. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

Cencora Stock Performance

NYSE:COR opened at $321.16 on Friday. The stock has a 50-day moving average price of $318.25 and a 200 day moving average price of $302.71. The stock has a market capitalization of $61.29 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.63 and a beta of 0.58. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. During the same period in the previous year, the firm earned $4.00 EPS. The firm's revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio is currently 17.83%.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Evercore restated an "outperform" rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Citigroup reissued a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $372.07.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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