Evolve Private Wealth LLC bought a new position in Cencora, Inc. (NYSE:COR – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,687 shares of the company’s stock, valued at approximately $1,043,000.
A number of other institutional investors have also recently bought and sold shares of COR. Accent Capital Management LLC increased its holdings in Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the period. MCF Advisors LLC lifted its holdings in shares of Cencora by 11.0% during the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after acquiring an additional 30 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of Cencora by 6.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after acquiring an additional 31 shares in the last quarter. Steph & Co. increased its stake in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after acquiring an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC increased its stake in Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on COR. Citigroup restated a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Robert W. Baird set a $370.00 target price on Cencora in a research report on Thursday, August 6th. Finally, William Blair started coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.
Insider Transactions at Cencora
In related news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by company insiders.
Cencora Price Performance
NYSE:COR opened at $317.89 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market cap of $60.66 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company’s 50-day moving average price is $302.59 and its two-hundred day moving average price is $311.52.
Cencora (NYSE:COR – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the business posted $4.00 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora Announces Dividend
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 issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.
Cencora announced that its board has approved a stock buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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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