Sumitomo Life Insurance Co. Sells 267 Shares of Cencora, Inc. $COR

Sumitomo Life Insurance Co. cut its position in shares of Cencora, Inc. (NYSE:COR) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,584 shares of the company’s stock after selling 267 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cencora were worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of COR. Invesco Ltd. raised its position in Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after purchasing an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after purchasing an additional 787,858 shares in the last quarter. Nuveen LLC bought a new stake in Cencora during the 1st quarter valued at $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cencora by 144.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after purchasing an additional 439,008 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,544 shares of company stock worth $12,230,941. 10.80% of the stock is owned by company insiders.

Cencora Trading Down 1.1%

Shares of NYSE:COR opened at $337.60 on Monday. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $350.46. The business’s fifty day simple moving average is $308.09 and its 200-day simple moving average is $297.19. The company has a market capitalization of $65.45 billion, a PE ratio of 34.73, a P/E/G ratio of 1.56 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the business earned $3.34 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts predict 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. Investors 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 was Friday, August 15th. Cencora’s payout ratio is 22.63%.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research analyst reports. UBS Group lifted their target price on Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 price target on Cencora in a report on Wednesday, October 8th. Wells Fargo & Company lifted 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cencora in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $329.55.

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.