Nordea Investment Management AB Raises Stake in Cencora, Inc. $COR

Key Points

• Nordea Investment Management AB raised its stake in Cencora by 3.8% in Q4 to 1,256,356 shares (about 0.65% ownership), valued at roughly $426.7 million.
• Cencora reported $4.08 EPS (beating estimates by $0.04) and revenue of $85.93 billion (up 5.5% YoY); it has a market cap of $63.8 billion, a PE of 39.4, and pays a $2.40 annual dividend (yield 0.7%).
• Analysts are broadly positive — consensus "Moderate Buy" (12 Buys, 2 Holds) with a $403.17 target and several raised price targets — while CEO Robert P. Mauch sold 5,096 shares, trimming his holding by 7.1% (insiders own 0.38%).

Nordea Investment Management AB raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,256,356 shares of the company's stock after acquiring an additional 45,712 shares during the period. Nordea Investment Management AB owned about 0.65% of Cencora worth $426,715,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. United Bank boosted its stake in shares of Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company's stock valued at $2,109,000 after purchasing an additional 305 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of Cencora during the 2nd quarter valued at $425,000. Ensign Peak Advisors Inc raised its position in Cencora by 32.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 107,995 shares of the company's stock worth $32,382,000 after purchasing an additional 26,704 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cencora in the 2nd quarter worth $329,000. Finally, Swiss National Bank lifted its stake in Cencora by 13.7% in the second quarter. Swiss National Bank now owns 557,600 shares of the company's stock worth $167,196,000 after purchasing an additional 67,000 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of Cencora stock opened at $327.96 on Friday. The company's fifty day simple moving average is $354.93 and its two-hundred day simple moving average is $339.92. Cencora, Inc. has a 12-month low of $265.59 and a 12-month high of $377.54. The firm has a market cap of $63.80 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 1.52 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. The firm had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.73 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora's dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. Leerink Partners reissued an "outperform" rating on shares of Cencora in a research note on Tuesday. Evercore restated an "outperform" rating on shares of Cencora in a report on Tuesday. Jefferies Financial Group upgraded Cencora from an "underperform" rating to a "buy" rating in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their price target on Cencora from $405.00 to $429.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $403.17.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the sale, the chief executive officer owned 66,726 shares in the company, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Cencora Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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