Assenagon Asset Management S.A. Grows Position in Cencora, Inc. $COR

Key Points

• Assenagon Asset Management increased its stake in Cencora by 5.0% in the first quarter, ending with 255,574 shares valued at about $80.3 million.
• Wall Street remains cautiously positive on Cencora, with 12 Buy ratings and 3 Hold ratings; the stock’s average price target is $367.75.
• Cencora recently reported Q1 earnings of $4.75 per share, missing estimates, while revenue of $78.36 billion also came in below expectations. The company also announced a $2 billion share buyback and continues paying a quarterly dividend of $0.60 per share.

Assenagon Asset Management S.A. grew its position in Cencora, Inc. (NYSE:COR - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 255,574 shares of the company's stock after acquiring an additional 12,058 shares during the quarter. Assenagon Asset Management S.A. owned 0.13% of Cencora worth $80,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of COR. Vestcor Inc increased its position in Cencora by 0.5% in the third quarter. Vestcor Inc now owns 5,196 shares of the company's stock worth $1,624,000 after purchasing an additional 28 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in Cencora by 30.2% during the fourth quarter. JFS Wealth Advisors LLC now owns 125 shares of the company's stock valued at $42,000 after purchasing an additional 29 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Cencora by 0.5% during the fourth quarter. Apollon Wealth Management LLC now owns 6,527 shares of the company's stock valued at $2,205,000 after purchasing an additional 30 shares during the last quarter. Accent Capital Management LLC grew its stake in shares of Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company's stock worth $38,000 after buying an additional 30 shares in the last quarter. Finally, MCF Advisors LLC grew its stake in shares of Cencora by 11.0% in the 4th quarter. MCF Advisors LLC now owns 303 shares of the company's stock worth $102,000 after buying an additional 30 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COR shares. Robert W. Baird decreased their target price on shares of Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Bank of America lifted their price target on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday. William Blair assumed coverage on Cencora in a research note on Tuesday, April 28th. They set a "market perform" rating on the stock. Evercore set a $360.00 price objective on Cencora in a research report on Wednesday, April 8th. Finally, Leerink Partners reaffirmed an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $367.75.

Insider Transactions at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the business's stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company's stock, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of NYSE:COR opened at $284.94 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market capitalization of $55.44 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.52 and a beta of 0.59. The firm's 50-day moving average is $282.09 and its 200 day moving average is $322.80.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $4.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($0.07). The firm had revenue of $78.36 billion during the quarter, compared to the consensus estimate of $81.09 billion. Cencora had a return on equity of 135.20% and a net margin of 0.78%.The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.42 EPS. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Research analysts predict that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. Cencora's dividend payout ratio (DPR) is currently 18.40%.

Cencora announced that its Board of Directors has initiated a share buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Cencora Company 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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