Cencora, Inc. $COR Stock: Candriam S.C.A. Boosts Position

Key Points

• Candriam S.C.A. increased its Cencora stake by 15.9% in the third quarter, adding 3,749 shares to hold 27,379 shares valued at about $8.25 million. Hedge funds and other institutions own 97.52% of the stock.
• Cencora beat quarterly earnings and revenue estimates, reporting EPS of $4.66 and revenue of $88.35 billion; revenue rose 5.5% year over year. The company also raised its quarterly dividend from $0.60 to $0.66 per share.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $366.50, with 12 Buy ratings and four Hold ratings.

Candriam S.C.A. boosted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,379 shares of the company's stock after acquiring an additional 3,749 shares during the period. Candriam S.C.A.'s holdings in Cencora were worth $8,251,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in Cencora in the second quarter valued at $286,673,000. SEB Asset Management AB purchased a new stake in Cencora in the first quarter worth about $134,139,000. Wedge Capital Management L L P NC lifted its holdings in Cencora by 31.0% in the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company's stock worth $29,887,000 after buying an additional 24,968 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cencora in the second quarter worth about $841,000. Finally, Peachtree Investment Partners LLC bought a new stake in Cencora during the 2nd quarter valued at approximately $2,204,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 3.8%

Cencora stock opened at $346.16 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.01. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The firm has a market capitalization of $66.06 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.84 and a beta of 0.58. The firm has a 50 day moving average of $325.56 and a 200 day moving average of $317.25.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.08. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The firm had revenue of $88.35 billion for the quarter, compared to the consensus estimate of $87.95 billion. During the same period in the prior year, the business posted $3.84 earnings per share. The company's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be paid a $0.66 dividend. This is a boost from Cencora's previous quarterly dividend of $0.60. The ex-dividend date is Friday, November 13th. This represents a $2.64 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio (DPR) is 13.39%.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COR shares. Wells Fargo & Company upped their target price on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price objective on shares of Cencora in a report on Tuesday, September 8th. Leerink Partners lifted their price target on shares of Cencora from $388.00 to $405.00 and gave the company an "outperform" rating in a research report on Thursday, November 5th. Bank of America boosted their price objective on shares of Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $366.50.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.