Mn Services Vermogensbeheer B.V. Buys 5,900 Shares of Cencora, Inc. $COR

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Cencora, Inc. by 9.4% in Q2, acquiring an additional 5,900 shares, bringing their total holdings to 68,800 shares valued at approximately $20.63 million.
• Analysts have set new price targets for Cencora, with Wells Fargo raising its target from $337 to $354 and nine analysts currently rating the stock as a "Buy."
• Cencora recently reported earnings of $4.00 per share, exceeding estimates, with a quarterly revenue of $80.66 billion, reflecting an 8.7% year-over-year increase.

Mn Services Vermogensbeheer B.V. boosted its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,800 shares of the company's stock after buying an additional 5,900 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Cencora were worth $20,630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COR. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at about $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the 1st quarter valued at about $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Cencora during the 4th quarter valued at about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR stock traded down $0.52 during midday trading on Friday, hitting $290.32. The company's stock had a trading volume of 7,182,669 shares, compared to its average volume of 1,405,903. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $56.29 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a 50 day moving average of $292.42 and a two-hundred day moving average of $286.81.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly 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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the company posted $3.34 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio is currently 22.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. 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. Wells Fargo & Company boosted their price objective on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,475 shares of company stock valued at $19,080,900 over the last quarter. Corporate insiders own 10.80% of the company's stock.

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.