William Blair Investment Management LLC Decreases Stake in Cencora, Inc. $COR

William Blair Investment Management LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,905 shares of the company’s stock after selling 2,760 shares during the period. William Blair Investment Management LLC’s holdings in Cencora were worth $10,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COR. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cencora by 13.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company’s stock worth $15,086,000 after buying an additional 5,543 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cencora by 947.5% during the 2nd quarter. Acadian Asset Management LLC now owns 257,082 shares of the company’s stock worth $77,069,000 after acquiring an additional 232,539 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in Cencora by 133.0% in the third quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company’s stock valued at $17,342,000 after acquiring an additional 32,138 shares during the last quarter. Advisors Asset Management Inc. raised its position in Cencora by 40.3% during the third quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company’s stock valued at $5,407,000 after purchasing an additional 4,973 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Cencora by 4.0% during the third quarter. Rhumbline Advisers now owns 430,150 shares of the company’s stock worth $134,435,000 after purchasing an additional 16,539 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $371.48 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The firm’s fifty day simple moving average is $353.00 and its 200 day simple moving average is $335.29. The stock has a market cap of $72.26 billion, a P/E ratio of 44.65, a price-to-earnings-growth ratio of 1.74 and a beta of 0.68. Cencora, Inc. has a twelve month low of $248.59 and a twelve month high of $377.54.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. During the same period last year, the company posted $3.73 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Cencora’s dividend payout ratio is currently 28.85%.

Analysts Set New Price Targets

COR has been the topic of a number of research reports. TD Cowen raised their price objective on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their price target on shares of Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group raised shares of Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Bank of America decreased their target price on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Finally, Evercore reduced their price objective on Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Eleven 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 presently has an average rating of “Moderate Buy” and a consensus target price of $399.00.

Insider Activity

In related news, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the sale, the executive vice president directly owned 23,891 shares in the company, valued at $8,173,111.10. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,677 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the transaction, the executive vice president directly owned 18,796 shares of the company’s stock, valued at $6,484,620. This represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,220 shares of company stock worth $5,282,867 in the last quarter. 0.38% of the stock is owned by company insiders.

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.