Danske Bank A S Invests $76.71 Million in Cencora, Inc. $COR

Danske Bank A S purchased a new position in Cencora, Inc. (NYSE:COR) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 271,081 shares of the company’s stock, valued at approximately $76,711,000.

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

Insider Activity

In other news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COR shares. Wells Fargo & Company upped their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Robert W. Baird set a $370.00 target price on shares of Cencora in a research note on Thursday, August 6th. Bank of America increased their price target on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Finally, Evercore restated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $374.25.

Cencora Price Performance

COR opened at $316.38 on Wednesday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a market capitalization of $60.37 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.80 and a beta of 0.57. The company’s 50-day simple moving average is $300.49 and its two-hundred day simple moving average is $312.40. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS 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 period in the previous year, the business posted $4.00 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Cencora Company Profile

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.