Algebris UK Ltd. Invests $969,000 in Cencora, Inc. $COR

Algebris UK Ltd. purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,435 shares of the company's stock, valued at approximately $969,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. United Bank lifted its position in Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company's stock worth $2,109,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Cencora in the second quarter worth approximately $595,000. Treasurer of the State of North Carolina grew its holdings in Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company's stock valued at $25,647,000 after purchasing an additional 6,244 shares during the period. Diversify Advisory Services LLC grew its holdings in Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company's stock valued at $747,000 after purchasing an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Cencora by 26.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company's stock worth $22,025,000 after purchasing an additional 15,154 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Robert W. Baird set a $370.00 target price 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 report on Thursday, August 6th. Royal Bank Of Canada started coverage on Cencora in a report on Wednesday. They issued a "sector perform" rating and a $330.00 price target for the company. Finally, Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $370.85.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler bought 550 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company's stock.

Cencora Stock Down 0.6%

Shares of NYSE:COR opened at $315.15 on Friday. The company's fifty day moving average is $301.86 and its two-hundred day moving average is $311.85. 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, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The stock has a market capitalization of $60.14 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the previous year, the firm posted $4.00 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid 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 0.8%. Cencora's dividend payout ratio (DPR) is currently 17.83%.

Cencora announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.

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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