Pictet Asset Management Holding SA Reduces Holdings in Cencora, Inc. $COR

Key Points

• Pictet Asset Management trimmed its stake in Cencora by 13.6% in Q4, selling 17,011 shares and leaving it with 107,949 shares worth about $36.5 million (roughly 0.06% of the company).
• Analyst sentiment is broadly positive — the consensus is a “Moderate Buy” with an average price target of $398.17 (12 Buys, 3 Holds), while COR traded near $311.42 at the time of the report.
• Cencora beat quarterly EPS estimates ($4.08 vs. $4.04) with revenue slightly under expectations, and it pays a $0.60 quarterly dividend ($2.40 annual, ~0.8% yield) amid a market cap of about $60.6 billion.

Pictet Asset Management Holding SA trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,949 shares of the company's stock after selling 17,011 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Cencora worth $36,464,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Optima Capital LLC bought a new position in Cencora in the 4th quarter worth $31,000. IAG Wealth Partners LLC bought a new stake in Cencora during the third quarter valued at about $30,000. Cloud Capital Management LLC purchased a new stake in Cencora in the third quarter worth about $31,000. Caitlin John LLC purchased a new stake in Cencora in the third quarter worth about $31,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Cencora during the 4th quarter valued at about $35,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COR shares. Robert W. Baird set a $415.00 target price on shares of Cencora in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Bank of America decreased their price objective on shares of Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a research report on Monday, January 5th. Jefferies Financial Group raised shares of Cencora from an "underperform" rating to a "buy" rating in a report on Thursday, January 22nd. Finally, Leerink Partners reiterated an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $398.17.

Cencora Trading Down 0.2%

Shares of COR opened at $311.42 on Thursday. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. Cencora, Inc. has a 1 year low of $271.00 and a 1 year high of $377.54. The company has a 50 day simple moving average of $334.39 and a two-hundred day simple moving average of $343.20. The firm has a market cap of $60.58 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. The firm had revenue of $85.93 billion for 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 quarter in the previous year, the firm earned $3.73 earnings per share. On average, equities analysts expect that Cencora, Inc. will post 17.57 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is presently 28.85%.

About Cencora

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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