Cencora, Inc. $COR Stake Lifted by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 420.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,023 shares of the company’s stock after acquiring an additional 45,254 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Cencora were worth $16,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Net Worth Advisory Group raised its stake in shares of Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock worth $736,000 after buying an additional 36 shares in the last quarter. Obermeyer Wealth Partners grew its holdings in Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock worth $758,000 after acquiring an additional 36 shares during the period. Grove Bank & Trust grew its holdings in Cencora by 4.3% during the second quarter. Grove Bank & Trust now owns 879 shares of the company’s stock worth $264,000 after acquiring an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Cencora by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company’s stock worth $2,563,000 after acquiring an additional 38 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock valued at $125,000 after acquiring an additional 39 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of NYSE:COR opened at $308.89 on Friday. The company’s fifty day moving average is $294.44 and its two-hundred day moving average is $289.82. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $315.23. The company has a market cap of $59.89 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 earnings per share. Equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s payout ratio is 22.63%.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock worth $16,292,923 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Jefferies Financial Group lifted their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $311.25.

Cencora Company 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.