J. Safra Sarasin Holding AG Has $3 Million Holdings in Cencora, Inc. (NYSE:COR)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Cencora, Inc. by 41.8%, owning 10,769 shares worth approximately $2,995,000 as of the end of the last quarter.
• Significant increases in holdings were reported by multiple investors, including Bank of America which raised its position in Cencora by 62.3%, bringing their total to 5,193,807 shares valued at around $1.17 billion.
• The company recently surpassed analysts’ earnings estimates, reporting $4.42 per share for the quarter, indicating a 10.3% year-over-year revenue increase to $75.5 billion.

J. Safra Sarasin Holding AG trimmed its stake in Cencora, Inc. (NYSE:COR - Free Report) by 41.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,769 shares of the company's stock after selling 7,730 shares during the period. J. Safra Sarasin Holding AG's holdings in Cencora were worth $2,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its position in shares of Cencora by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock worth $47,425,000 after purchasing an additional 3,945 shares during the last quarter. Arete Wealth Advisors LLC raised its stake in Cencora by 6.3% during the 4th quarter. Arete Wealth Advisors LLC now owns 2,565 shares of the company's stock valued at $576,000 after purchasing an additional 153 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Cencora during the fourth quarter valued at about $19,050,000. Rhenman & Partners Asset Management AB lifted its stake in shares of Cencora by 19.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 53,750 shares of the company's stock valued at $12,077,000 after buying an additional 8,600 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Cencora by 0.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 589,072 shares of the company's stock worth $132,353,000 after buying an additional 3,546 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Down 2.6%

COR stock traded down $7.30 during midday trading on Thursday, reaching $276.48. The company's stock had a trading volume of 342,123 shares, compared to its average volume of 1,564,407. The business's 50-day simple moving average is $292.87 and its 200-day simple moving average is $277.05. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a market cap of $53.59 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm's revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $3.34 EPS. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is 25.52%.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The stock was 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 directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated 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 transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COR. Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and an average target price of $309.83.

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.