Carmignac Gestion Has $494.46 Million Stock Holdings in Cencora, Inc. $COR

Carmignac Gestion raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 58.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,747,363 shares of the company’s stock after buying an additional 646,112 shares during the period. Cencora comprises approximately 6.3% of Carmignac Gestion’s investment portfolio, making the stock its 3rd biggest position. Carmignac Gestion owned 0.92% of Cencora worth $494,463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COR. Kemnay Advisory Services Inc. purchased a new position in Cencora during the 4th quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in Cencora in the fourth quarter worth $27,000. Motiv8 Investments LLC bought a new stake in shares of Cencora during the fourth quarter worth $29,000. Basepoint Wealth LLC bought a new stake in shares of Cencora during the fourth quarter worth $32,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore restated an “outperform” rating and issued a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. UBS Group upped their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Bank of America raised their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Insider Activity

In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren M. Tyler bought 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Down 2.1%

COR traded down $6.96 on Tuesday, hitting $323.99. The company had a trading volume of 2,200,490 shares, compared to its average volume of 1,513,462. The stock has a market capitalization of $61.83 billion, a price-to-earnings ratio of 24.07, a P/E/G 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 stock has a fifty day moving average price of $313.30 and a 200-day moving average price of $309.32. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

Cencora announced that its Board of Directors has approved a share buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.