Ancora Advisors LLC Takes $1.30 Million Position in Cencora, Inc. $COR

Key Points

• Ancora Advisors acquired 4,608 Cencora shares worth approximately $1.30 million during the second quarter, while institutional investors collectively own 97.52% of the stock.
• Analyst sentiment remains positive: 13 analysts rate Cencora a Buy and three rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $370.85.
• Cencora exceeded quarterly earnings and revenue estimates, reporting $4.48 in EPS and $84.75 billion in revenue. The company also authorized a $2 billion share-repurchase program and declared a quarterly dividend of $0.60 per share.

Ancora Advisors LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,608 shares of the company's stock, valued at approximately $1,304,000.

Other institutional investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Cencora during the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new stake in shares of Cencora in the fourth quarter worth approximately $27,000. Elevation Wealth Partners LLC raised its holdings in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after buying an additional 81 shares during the period. Archer Investment Corp lifted its stake in shares of Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock worth $28,000 after acquiring an additional 47 shares during the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in shares of Cencora during the 2nd quarter worth approximately $28,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lauren M. Tyler bought 550 shares of the company's stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director owned 4,359 shares of the company's stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley upped 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. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Citigroup reissued a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Wells Fargo & Company raised their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $370.85.

Cencora Trading Down 2.0%

Shares of NYSE COR opened at $321.31 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The firm has a market cap of $61.32 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The business has a fifty day simple moving average of $306.37 and a two-hundred day simple moving average of $310.80. 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 (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the company earned $4.00 EPS. The business's revenue was up 5.1% compared to the same quarter last year. Analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its board has authorized a share repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Cencora Dividend Announcement

The firm also recently disclosed 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 0.7%. Cencora's payout ratio is 17.83%.

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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