Carmignac Gestion Acquires 646,112 Shares of Cencora, Inc. $COR

Carmignac Gestion increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 58.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,747,363 shares of the company’s stock after purchasing an additional 646,112 shares during the period. Cencora makes up 6.3% of Carmignac Gestion’s holdings, making the stock its 3rd biggest position. Carmignac Gestion’s holdings in Cencora were worth $494,463,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. United Bank grew its holdings in Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after acquiring an additional 305 shares during the period. Nebula Research & Development LLC acquired a new position in Cencora in the second quarter valued at approximately $595,000. Treasurer of the State of North Carolina lifted its holdings in Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after acquiring an additional 6,244 shares during the period. Diversify Advisory Services LLC boosted its position in Cencora by 94.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after purchasing an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Cencora by 26.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after purchasing an additional 15,154 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cencora news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

COR has been the subject of several analyst reports. Barclays decreased their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Bank of America raised their price target on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their target price on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Price Performance

Shares of NYSE:COR traded down $6.96 during midday trading on Tuesday, reaching $323.99. 2,200,490 shares of the company’s stock traded hands, compared to its average volume of 1,513,462. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a market cap of $61.83 billion, a P/E ratio of 24.07, a PEG ratio of 1.88 and a beta of 0.57. 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 company has a fifty day simple moving average of $313.30 and a two-hundred day simple moving average of $309.32.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.00 EPS. Equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its board has initiated a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

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.