Elevation Point Wealth Partners LLC purchased a new stake in Cencora, Inc. (NYSE:COR – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,296 shares of the company’s stock, valued at approximately $4,045,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kemnay Advisory Services Inc. acquired a new position in Cencora in the fourth quarter worth $25,000. Oakworth Capital Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at $26,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora in the fourth quarter valued at $27,000. Archer Investment Corp raised its holdings in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of Cencora in the fourth quarter valued at about $29,000. 97.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on COR shares. Evercore reissued an “outperform” rating and set a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. UBS Group boosted their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. William Blair began coverage on shares of Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company increased their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $370.85.
Cencora Stock Up 1.0%
Shares of NYSE:COR opened at $317.89 on Friday. The company has a 50 day moving average of $302.59 and a 200-day moving average of $311.89. The stock has a market cap of $60.66 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.
Cencora (NYSE:COR – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same period last year, the company earned $4.00 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.
Cencora Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.
Cencora declared that its Board of Directors has authorized a share buyback program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Insiders Place Their Bets
In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.
About Cencora
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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