Skandinaviska Enskilda Banken AB publ Purchases 18,837 Shares of Cencora, Inc. (NYSE:COR)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Cencora, Inc. (NYSE:COR) by 15.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,994 shares of the company’s stock after buying an additional 18,837 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Cencora worth $32,442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. AE Wealth Management LLC grew its stake in shares of Cencora by 2.5% during the 2nd quarter. AE Wealth Management LLC now owns 18,826 shares of the company’s stock worth $4,242,000 after acquiring an additional 468 shares in the last quarter. Bridges Investment Management Inc. bought a new position in Cencora in the 2nd quarter valued at about $318,000. Benjamin F. Edwards & Company Inc. increased its position in Cencora by 26.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,809 shares of the company’s stock worth $1,759,000 after buying an additional 1,626 shares during the period. Ieq Capital LLC increased its stake in Cencora by 8.7% during the 2nd quarter. Ieq Capital LLC now owns 9,613 shares of the company’s stock worth $2,166,000 after acquiring an additional 768 shares during the period. Finally, Intech Investment Management LLC raised its stake in Cencora by 0.8% in the second quarter. Intech Investment Management LLC now owns 64,921 shares of the company’s stock valued at $14,627,000 after purchasing an additional 534 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on COR shares. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America reiterated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research note on Wednesday. Robert W. Baird decreased their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $256.67.

Cencora Price Performance

Cencora stock opened at $226.56 on Friday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The business has a fifty day moving average of $234.73 and a two-hundred day moving average of $233.18. Cencora, Inc. has a one year low of $178.21 and a one year high of $247.66. The company has a market cap of $45.19 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 EPS. As a group, analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Buying and Selling at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.