Cencora, Inc. $COR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of Cencora, Inc. (NYSE:COR) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,774 shares of the company’s stock after selling 1,943 shares during the period. Pictet Asset Management Holding SA’s holdings in Cencora were worth $30,558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Bell Investment Advisors Inc bought a new position in shares of Cencora during the 2nd quarter valued at about $28,000. Caitlin John LLC bought a new position in shares of Cencora during the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cencora during the 1st quarter valued at about $35,000. Finally, Lynch Investment Planning LLC purchased a new position in shares of Cencora during the 3rd quarter valued at about $39,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In other 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 transaction of $3,662,556.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.8%

Shares of COR stock opened at $348.54 on Wednesday. The stock has a market capitalization of $66.51 billion, a PE ratio of 19.45, a P/E/G ratio of 1.79 and a beta of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The business has a 50-day moving average of $326.05 and a 200 day moving average of $317.23. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.94 and a quick ratio of 0.59.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.08. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The business had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. During the same period last year, the company earned $3.84 EPS. Cencora’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a $0.66 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.64 dividend on an annualized basis and a yield of 0.8%. Cencora’s payout ratio is 13.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $330.00 target price on shares of Cencora in a research report on Tuesday, September 8th. Evercore reiterated an “outperform” rating and set a $350.00 price target (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Leerink Partners lifted their price target on shares of Cencora from $388.00 to $405.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average price target of $368.14.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers. The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.