44,700 Shares in Cencora, Inc. $COR Acquired by Bank of Nova Scotia

Bank of Nova Scotia acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 44,700 shares of the company's stock, valued at approximately $12,649,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. purchased a new stake in Cencora during the 4th quarter valued at about $25,000. Oakworth Capital Inc. purchased a new position in Cencora in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new position in Cencora in the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Archer Investment Corp grew its position 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 purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR stock opened at $323.56 on Tuesday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. 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 stock has a market cap of $61.75 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. The business has a fifty day moving average of $303.43 and a two-hundred day moving average of $311.25.

Cencora (NYSE:COR - Get Free Report) last announced 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. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.00 EPS. As a group, research analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. 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 0.7%. Cencora's dividend payout ratio is presently 17.83%.

Cencora declared that its board has authorized a share buyback program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays cut their price target on Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Evercore restated an "outperform" rating and issued a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Royal Bank Of Canada assumed coverage on Cencora in a research note on Wednesday, August 19th. They issued a "sector perform" rating and a $330.00 target price for the company. William Blair initiated coverage on Cencora in a report on Tuesday, April 28th. They set a "market perform" rating on the stock. Finally, Citigroup reissued a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $370.85.

Insider Buying and Selling

In related news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction 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 completion of the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.

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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