Nykredit A S Purchases New Position in Cencora, Inc. $COR

Key Points

• Nykredit A/S acquired 66,465 Cencora shares in the second quarter, worth approximately $18.8 million. Institutional investors and hedge funds collectively own 97.52% of the company.
• Cencora reported quarterly earnings of $4.48 per share, exceeding estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. The company also pays a quarterly dividend of $0.60 per share, yielding approximately 0.8%.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $370.85.

Nykredit A S acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,465 shares of the company's stock, valued at approximately $18,808,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Cencora in the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its stake in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock valued at $2,262,956,000 after buying an additional 4,123,795 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company's stock valued at $1,843,268,000 after buying an additional 169,055 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Cencora by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company's stock valued at $1,682,859,000 after acquiring an additional 304,760 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock valued at $1,300,033,000 after acquiring an additional 267,318 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Trading Down 0.3%

Shares of COR stock opened at $308.62 on Friday. The company has a market capitalization of $58.89 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.75 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The business's 50 day moving average is $317.18 and its two-hundred day moving average is $306.91. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion during the quarter, compared to analysts' expectations of $84.31 billion. During the same quarter in the prior year, the business earned $4.00 earnings per share. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio is presently 17.83%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren M. Tyler purchased 550 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares of the company's stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COR. Wells Fargo & Company lifted their target price on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Barclays decreased their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. UBS Group lifted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.

Cencora Profile

Cencora, Inc NYSE: COR is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora's operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.

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