CENCORA, INC.
In the published model solve dated 2026-Q2, anchored at $322.03, CENCORA, INC. (COR) is priced for +7.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Cencora moves roughly $328.7 billion of pharmaceuticals a year and keeps about 1.2% of it as trailing operating profit, so the entire investment case rests on a very thin slice of a very large number. • Customer concentration is the defining risk, with the 10-K stating that ⟦Walgreens and Boots together accounted for approximately 25% of our revenue in fiscal 2025⟧ and that ⟦Our top ten customers, including governmental agencies, represented approximately 66% of revenue in fiscal 2025⟧. • Huma
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1,385 institutional managers reported holding COR in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 37%. 112 opened new positions that quarter. Held by BlackRock, State Street, T. Rowe Price, among others. On the short side, 6.2M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (4.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
COR has cut its share count 5.6% over the past five years, spending $3.64B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 17 years straight; the current rate is $2.20 a share annually. Cash returned over the past three years: $1.20B in dividends and $2.22B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at COR over the trailing three years: 2024: 1 buy totaling $109k; 2026: 3 buys totaling $2.31M. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
COR's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | +1.2% | -3.3% |
| 2023-11-22 | -2.8% | +8.9% |
| 2024-02-01 | +7.4% | +2.2% |
| 2024-05-02 | -6.0% | -1.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
COR's latest 8-K filings: 2026-08-14 (items 5.02); 2026-08-12 (items 7.01); 2026-08-05 (items 1.01, 2.03, 9.01); 2026-08-05 (items 2.02, 7.01, 9.01); 2026-06-15 (items 5.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.