Sivik Global Healthcare LLC Cuts Stake in Cencora, Inc. $COR

Sivik Global Healthcare LLC lowered its position in shares of Cencora, Inc. (NYSE:COR) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,000 shares of the company’s stock after selling 2,000 shares during the period. Cencora accounts for 1.8% of Sivik Global Healthcare LLC’s holdings, making the stock its 11th biggest holding. Sivik Global Healthcare LLC’s holdings in Cencora were worth $6,080,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COR. Vanguard Group Inc. grew its holdings in Cencora by 4.1% during the third quarter. Vanguard Group Inc. now owns 23,395,547 shares of the company’s stock worth $7,311,810,000 after acquiring an additional 916,506 shares during the period. State Street Corp grew its holdings in Cencora by 9.3% during the third quarter. State Street Corp now owns 9,190,316 shares of the company’s stock worth $2,872,249,000 after acquiring an additional 782,911 shares during the period. JPMorgan Chase & Co. grew its holdings in Cencora by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company’s stock worth $1,461,965,000 after acquiring an additional 821,098 shares during the period. Boston Partners grew its holdings in Cencora by 2.0% during the third quarter. Boston Partners now owns 4,509,165 shares of the company’s stock worth $1,409,152,000 after acquiring an additional 89,506 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Cencora by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company’s stock worth $1,241,094,000 after acquiring an additional 115,278 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

Shares of NYSE:COR opened at $320.53 on Wednesday. The firm has a market capitalization of $62.35 billion, a PE ratio of 38.53, a P/E/G ratio of 1.51 and a beta of 0.72. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The business has a 50-day moving average of $347.21 and a two-hundred day moving average of $342.35. Cencora, Inc. has a 12 month low of $269.37 and a 12 month high of $377.54.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Cencora’s dividend payout ratio (DPR) is currently 28.85%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COR. Morgan Stanley set a $380.00 price objective on Cencora in a report on Tuesday, March 17th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Bank of America decreased their target price on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Barclays boosted their target price on Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $403.17.

Cencora 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.