Avidity Partners Management LP Sells 9,600 Shares of Cencora, Inc. $COR

Avidity Partners Management LP lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 50.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,400 shares of the company’s stock after selling 9,600 shares during the period. Cencora makes up 0.9% of Avidity Partners Management LP’s investment portfolio, making the stock its 24th largest holding. Avidity Partners Management LP’s holdings in Cencora were worth $3,175,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AustralianSuper Pty Ltd bought a new stake in Cencora during the third quarter worth about $26,191,000. Chilton Investment Co. Inc. purchased a new position in Cencora in the third quarter worth about $459,000. Lansforsakringar Fondforvaltning AB publ raised its holdings in Cencora by 5.4% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 60,254 shares of the company’s stock worth $18,831,000 after buying an additional 3,073 shares during the last quarter. Nordea Investment Management AB raised its holdings in Cencora by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 1,256,356 shares of the company’s stock worth $426,715,000 after buying an additional 45,712 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in Cencora in the third quarter worth about $1,225,000. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COR. William Blair began coverage on shares of Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating for the company. Citigroup decreased their target price on shares of Cencora from $405.00 to $355.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Leerink Partners reaffirmed an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Robert W. Baird decreased their target price on shares of Cencora from $420.00 to $339.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, 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 report on Wednesday. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $374.00.

Cencora Stock Performance

Shares of NYSE COR opened at $281.56 on Friday. The firm has a 50 day moving average of $289.22 and a 200 day moving average of $327.63. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. The firm has a market capitalization of $54.78 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.59. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 6th. The company reported $4.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($0.07). The business had revenue of $78.36 billion for the quarter, compared to the consensus estimate of $81.09 billion. Cencora had a net margin of 0.78% and a return on equity of 135.20%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.42 earnings per share. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. On average, research analysts anticipate that Cencora, Inc. will post 17.79 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, May 15th. Cencora’s payout ratio is 18.40%.

Cencora announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.