Handelsbanken Fonder AB Reduces Stock Holdings in Cencora, Inc. (NYSE:COR)

Handelsbanken Fonder AB lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,010 shares of the company’s stock after selling 11,434 shares during the quarter. Handelsbanken Fonder AB owned about 0.16% of Cencora worth $70,002,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in Cencora in the first quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Cencora in the 2nd quarter valued at about $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the 1st quarter valued at about $29,000. TFO Wealth Partners LLC purchased a new position in Cencora during the 1st quarter worth approximately $30,000. Finally, MFA Wealth Advisors LLC purchased a new position in Cencora during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,755 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Performance

NYSE COR traded down $1.02 on Friday, hitting $219.94. 1,638,164 shares of the company’s stock were exchanged, compared to its average volume of 1,415,768. The firm has a market cap of $43.87 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.58 and a beta of 0.44. The firm’s 50-day moving average price is $234.60 and its two-hundred day moving average price is $232.21. Cencora, Inc. has a fifty-two week low of $182.62 and a fifty-two week high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.93%. Cencora’s payout ratio is currently 22.32%.

Wall Street Analysts Forecast Growth

COR has been the subject of several research analyst reports. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Bank of America reiterated a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.67.

Cencora Profile

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.