Varma Mutual Pension Insurance Co Buys 1,025 Shares of Cencora, Inc. (NYSE:COR)

Varma Mutual Pension Insurance Co raised its stake in Cencora, Inc. (NYSE:COR) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,225 shares of the company’s stock after acquiring an additional 1,025 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Cencora were worth $13,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Cencora in the 1st quarter valued at $25,000. New Millennium Group LLC bought a new stake in Cencora in the 2nd quarter valued at $26,000. Legacy Bridge LLC bought a new stake in Cencora in the 1st quarter valued at $27,000. TCTC Holdings LLC bought a new stake in Cencora in the 1st quarter valued at $29,000. Finally, TFO Wealth Partners LLC purchased a new position in shares of Cencora in the 1st quarter worth $30,000. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the business’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 owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last three months. Company insiders own 15.80% of the company’s stock.

Cencora Price Performance

COR stock opened at $234.97 on Monday. Cencora, Inc. has a 12 month low of $172.41 and a 12 month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a 50-day moving average price of $232.44 and a 200 day moving average price of $233.20. The stock has a market cap of $46.87 billion, a PE ratio of 25.71, a P/E/G ratio of 1.57 and a beta of 0.44.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Robert W. Baird dropped their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.13.

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.