Cencora, Inc. $COR Position Lessened by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Cencora, Inc. (NYSE:COR) by 32.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,107 shares of the company’s stock after selling 105,735 shares during the period. Handelsbanken Fonder AB’s holdings in Cencora were worth $62,569,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of COR. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora during the 4th quarter worth about $25,000. Oakworth Capital Inc. bought a new stake in shares of Cencora in the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new position in Cencora in the fourth quarter worth approximately $27,000. Archer Investment Corp increased its holdings in Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in Cencora during the fourth quarter valued at approximately $29,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $324.17 on Tuesday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The firm’s fifty day simple moving average is $295.07 and its 200 day simple moving average is $313.94. 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 firm has a market capitalization of $63.07 billion, a PE ratio of 24.08, a PEG ratio of 1.84 and a beta of 0.57.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the previous year, the business earned $4.00 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cencora, Inc. will post 17.83 EPS for the current year.

Cencora announced that its board has authorized a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s payout ratio is currently 17.83%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COR. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday. UBS Group upped their price objective on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird set a $370.00 target price on Cencora in a report on Thursday. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research report on Saturday. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $368.92.

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.