3,687 Shares in Cencora, Inc. $COR Bought by Evolve Private Wealth LLC

Key Points

• Evolve Private Wealth LLC acquired 3,687 Cencora shares worth approximately $1.04 million in the second quarter. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly EPS of $4.48, exceeding expectations of $4.35, while revenue rose 5.1% year over year to $84.75 billion. The company also authorized a $2 billion share-repurchase program.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $370.85; Cencora also pays a quarterly dividend of $0.60 per share, yielding approximately 0.8%.

Evolve Private Wealth LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,687 shares of the company's stock, valued at approximately $1,043,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC lifted its holdings in shares of Cencora by 36.1% during 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 last quarter. MCF Advisors LLC increased its holdings in Cencora by 11.0% in the fourth quarter. MCF Advisors LLC now owns 303 shares of the company's stock worth $102,000 after buying an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC increased its holdings in Cencora by 6.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company's stock worth $164,000 after buying an additional 31 shares during the last quarter. Steph & Co. raised its position in Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company's stock valued at $53,000 after acquiring an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in Cencora by 1.1% during 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 in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

NYSE COR opened at $317.89 on Monday. The stock has a 50-day simple moving average of $302.59 and a 200 day simple moving average of $311.52. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The stock has a market capitalization of $60.66 billion, a PE ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the firm posted $4.00 EPS. The company's revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora announced that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is 17.83%.

Insider Buying and Selling

In related news, Director Lauren M. Tyler bought 550 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Bank of America lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. William Blair initiated coverage on shares of Cencora in a report on Tuesday, April 28th. They issued a "market perform" rating for the company. Finally, Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $370.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source