7,230 Cencora, Inc. $COR Shares Purchased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Cencora stake by 174.9% in the second quarter, buying 7,230 additional shares and bringing its holdings to 11,364 shares valued at $3.216 million. Institutional investors collectively own 97.52% of the stock.
• Cencora reported quarterly EPS of $4.48, exceeding estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. The company also maintains a quarterly dividend of $0.60, equivalent to a 0.8% annual yield.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $370.85 versus the reported share price of $307.12.

Envestnet Portfolio Solutions Inc. grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 174.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,364 shares of the company's stock after purchasing an additional 7,230 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cencora were worth $3,216,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Anchor Investment Management LLC grew its stake in Cencora by 6.9% in the 2nd quarter. Anchor Investment Management LLC now owns 2,300 shares of the company's stock valued at $707,000 after purchasing an additional 149 shares during the period. Core Capital Management & Research inc. bought a new position in Cencora during the second quarter valued at about $4,484,000. National Pension Service grew its position in Cencora by 3.9% during the second quarter. National Pension Service now owns 737,713 shares of the company's stock valued at $208,758,000 after buying an additional 27,882 shares during the period. Engineers Gate Manager LP increased its holdings in Cencora by 407.9% during the second quarter. Engineers Gate Manager LP now owns 38,453 shares of the company's stock worth $10,881,000 after buying an additional 30,882 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its position in Cencora by 11.6% in the second quarter. Cidel Asset Management Inc. now owns 1,181 shares of the company's stock worth $334,000 after acquiring an additional 123 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.9%

COR opened at $307.12 on Friday. The stock has a market cap of $58.61 billion, a PE ratio of 22.82, a P/E/G ratio of 1.76 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The business's fifty day simple moving average is $317.95 and its 200 day simple moving average is $305.01.

Cencora (NYSE:COR - Get Free Report) last issued 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. The firm had revenue of $84.75 billion during 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 revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.00 earnings per share. As a group, research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio is currently 17.83%.

Analyst Ratings Changes

A number of research firms have weighed in on COR. Evercore reiterated an "outperform" rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Barclays lowered their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a report on Wednesday, June 10th. Weiss Ratings upgraded Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $330.00 target price on shares of Cencora in a research report on Tuesday, September 8th. Finally, UBS Group boosted their target price on Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $370.85.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Cencora Company Profile

Cencora, Inc NYSE: COR is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora's operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.

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.