Walgreens Boots pockets $992 million after cutting Cencora stake for third time [Yahoo! Finance]
Cencora, Inc. (COR)
Last cencora, inc. earnings: 4/30 06:30 am
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Source: Yahoo! Finance
The proceeds include around $942 million from shares sold as well as about $50 million from a concurrent share repurchase by Cencora, formerly AmerisourceBergen. Walgreens has been grappling with waning demand for COVID-19 vaccines and testing as well as decreased spending on personal care and beauty products by inflation-weary consumers. It said it now owns around 13% of Cencora's common stock from 15% previously, and that it would use the sale proceeds primarily to pay down debt. The sale will have no impact on their long-term partnership and Walgreens' chief operating officer, international, Ornella Barra, will continue to serve on Cencora's board of directors, Walgreens said. Walgreens sold Cencora shares worth about $674 million in November 2023 and earned about $1.85 billion from a sale in August. Cencora changed its name from AmerisourceBergen in the second half of 2023 as part of efforts to expand internationally beyond drug distribution. (Reporting by Pratik Jain
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COR
News
- Cencora, Inc. (NYSE: COR) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- Cencora, Inc. (NYSE: COR) had its price target raised by analysts at Robert W. Baird from $275.00 to $277.00. They now have an "outperform" rating on the stock.MarketBeat
- Pharma Wholesale and Distribution Market 10 Year Forecast Report 2024-2034: Global Market Set to Surpass the US$800 Billion Mark in 2024 [Yahoo! Finance]Yahoo! Finance
- Cencora Reports Fiscal 2024 Second Quarter ResultsBusiness Wire
- Cencora, Inc. (NYSE: COR) had its price target raised by analysts at Citigroup Inc. from $265.00 to $280.00. They now have a "buy" rating on the stock.MarketBeat
COR
Earnings
- 5/1/24 - Beat
COR
Sec Filings
- 5/3/24 - Form 8-K
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- COR's page on the SEC website