Nordea Investment Management AB Has $346.47 Million Stock Position in Cencora, Inc. $COR

Key Points

• Nordea Investment Management AB increased its stake in Cencora, Inc. to $346.47 million, representing 0.60% ownership after acquiring 32,749 shares during Q2.
• According to analysts, Cencora has an average rating of "Moderate Buy" with a consensus target price of $324.91, which reflects positive sentiment in the market.
• Insiders have recently sold shares, with Chairman Steven H. Collis and CEO Robert P. Mauch each reducing their holdings significantly, indicating potential concerns about the stock's short-term performance.

Nordea Investment Management AB lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,157,951 shares of the company's stock after purchasing an additional 32,749 shares during the period. Nordea Investment Management AB owned 0.60% of Cencora worth $346,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Voleon Capital Management LP bought a new stake in shares of Cencora during the 1st quarter worth approximately $3,111,000. Exchange Traded Concepts LLC raised its stake in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock worth $1,589,000 after purchasing an additional 1,171 shares in the last quarter. Martin Capital Partners LLC raised its stake in shares of Cencora by 205.2% during the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company's stock worth $1,135,000 after purchasing an additional 2,544 shares in the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in shares of Cencora during the 2nd quarter worth approximately $262,000. Institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of analyst reports. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Evercore ISI set a $340.00 price target on Cencora in a research note on Wednesday, October 8th. Mizuho increased their price target on Cencora from $316.00 to $334.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $324.91.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,025 shares of company stock worth $14,831,784. Insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of NYSE COR opened at $319.22 on Friday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The stock's fifty day moving average price is $299.51 and its two-hundred day moving average price is $292.81. Cencora, Inc. has a one year low of $223.92 and a one year high of $321.87. The firm has a market cap of $61.89 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period in the prior year, the firm posted $3.34 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Cencora Profile

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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