Livförsäkringsbolaget Skandia Omsesidigt has significantly diminished its stake in Cencora, Inc., reportedly reducing its shares by 95.2% during the second quarter, according to a recent Securities and Exchange Commission filing. Skandia now holds 1,875 shares valued at $562,000 after selling 37,000 shares in the period. In contrast, several major investors, including GAMMA Investing LLC and Invesco Ltd., have substantially increased their holdings, with GAMMA Investing LLC boosting its stake by an impressive 43,561.9% in the first quarter.
Analysts have shown various perspectives on Cencora’s stock performance. Jefferies Financial Group has revised its price target upward to $300, maintaining a hold rating. Meanwhile, Wells Fargo & Company raised its target to $354, labeling the stock as overweight, and Morgan Stanley set a target at $330 with an equal weight rating. Overall, Cencora enjoys a “Moderate Buy” consensus with an average price target of $311.25, as nine analysts recommend buying the stock, while three suggest holding.
The recent price movement of Cencora’s shares reflects a drop of $1.04 during the day’s trading, reaching $288.98. This comes as the company navigates a market characterized by a 1-year low of $218.65 and a peak of $309.35. As of its latest data, Cencora holds a market capitalization of $56.03 billion with a P/E ratio of 29.73. Financial metrics reveal a debt-to-equity ratio of 3.64 and a current ratio of 0.90, indicating its financial structure and liquidity stance.
In the recent quarterly financial results, Cencora surpassed analysts’ expectations, reporting earnings per share of $4.00 against estimates of $3.79 on revenues of $80.66 billion. This represents a significant 8.7% increase over the previous year. Analysts predict the company will achieve an EPS of 15.37 for the current year.
Cencora has shown commitment to its shareholders by announcing a quarterly dividend of $0.55 per share, illustrating a dividend yield of 0.8% with a payout ratio of 22.63%.
Internally, there have been notable stock transactions among Cencora’s top executives. CEO Robert P. Mauch sold 4,968 shares, reducing his holdings by around 10.50%, while Chairman Steven H. Collis sold 31,350 shares, a 9.30% decrease in his position.
Cencora Inc., known for its pharmaceutical distribution and related services, continues to maintain a strong market presence, with institutional investors owning 97.52% of its stock. This investor confidence highlights Cencora’s robust market position and potential for future growth.