Sawyer & Company Inc Buys New Holdings in Cencora, Inc. $COR

Key Points

• Sawyer & Company acquired 7,773 Cencora shares worth approximately $2.33 million in the third quarter, while institutional investors collectively own 97.52% of the stock.
• Analyst sentiment remains favorable, with 14 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $366.31. Argus raised its target to $380, while Cencora’s shares recently traded around $339.85.
• Cencora reported quarterly revenue of $84.75 billion and adjusted EPS of $4.48, exceeding estimates, and continues to pay a quarterly dividend of $0.60 per share. Its planned American Oncology Network acquisition could support growth but carries integration, financing and execution risks.

Sawyer & Company Inc acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,773 shares of the company's stock, valued at approximately $2,334,000.

A number of other hedge funds also recently added to or reduced their stakes in COR. BlackRock Inc. bought a new position in Cencora in the 2nd quarter worth about $5,154,136,000. Bank of America Corp DE raised its holdings in shares of Cencora by 6.9% during 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 buying an additional 267,318 shares during the last quarter. Amundi raised its holdings in shares of Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company's stock valued at $630,855,000 after buying an additional 676,066 shares during the last quarter. Carmignac Gestion boosted its position in shares of Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock worth $494,463,000 after buying an additional 646,112 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora during the second quarter worth approximately $483,772,000. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction dated 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 directly owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on COR. Robert W. Baird lifted their target price on Cencora from $370.00 to $373.00 and gave the company an "outperform" rating in a research note on Monday, October 12th. Citigroup reiterated a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Argus raised their price target on Cencora from $340.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday. Royal Bank Of Canada reissued a "sector perform" rating and set a $330.00 price target on shares of Cencora in a report on Tuesday, September 8th. Finally, Weiss Ratings upgraded shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $366.31.

Key Cencora News

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Argus raised its price target on Cencora from $340 to $380 and maintained a “buy” rating, implying additional upside and signaling confidence in the company’s outlook. Argus raises target for Cencora stock
• Positive Sentiment: The AON acquisition is strategically supportive because oncology is a growing healthcare market and the deal could broaden Cencora’s relationships with community-based providers. Cencora to Acquire American Oncology Network to Strengthen Support of Community Oncology
• Neutral Sentiment: UBS lowered its Cencora price target to $400, though the revised target remains above the recent trading level. The change suggests more cautious valuation assumptions rather than a clearly negative view. UBS cuts target to $400 for Cencora stock
• Negative Sentiment: The acquisition introduces execution, integration and financing risks. In addition, Brodsky & Smith announced an investigation involving American Oncology Network shareholders, which could add uncertainty around the transaction, although the notice does not specifically allege wrongdoing by Cencora. Brodsky & Smith shareholder update

Cencora Price Performance

NYSE:COR traded down $3.42 during midday trading on Wednesday, hitting $339.85. 407,425 shares of the stock were exchanged, compared to its average volume of 1,466,199. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a market capitalization of $64.85 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 1.74 and a beta of 0.58. The business has a 50-day moving average price of $320.90 and a two-hundred day moving average price of $303.66. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period last year, the company posted $4.00 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora's dividend payout ratio (DPR) is currently 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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