OneDigital Investment Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 5,561 shares of the company’s stock, valued at approximately $1,574,000.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after purchasing an additional 221,570 shares during the last quarter. State Street Corp increased its holdings in shares of Cencora by 1.3% in the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after purchasing an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cencora by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock worth $1,682,859,000 after purchasing an additional 304,760 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on COR. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. William Blair assumed coverage on shares of Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating for the company. Morgan Stanley lifted their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Barclays reduced 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, June 10th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $374.25.
Insider Activity at Cencora
In other Cencora news, Director Lauren M. Tyler purchased 550 shares of Cencora 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 acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.
Cencora Stock Performance
COR opened at $312.51 on Tuesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The firm has a fifty day moving average price of $299.75 and a 200 day moving average price of $312.64. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a market cap of $59.64 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.80 and a beta of 0.57.
Cencora (NYSE:COR – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the business earned $4.00 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Cencora, Inc. will post 17.84 earnings per share for the current year.
Cencora Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.
Cencora announced that its board has approved a share buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors 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.
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