Assetmark Inc. Acquires 4,570 Shares of Cencora, Inc. $COR

Key Points

• Assetmark Inc. increased its stake in Cencora by 6.8% in the first quarter, buying 4,570 additional shares and bringing its total holding to 71,851 shares worth about $22.6 million.
• Cencora reported mixed quarterly results, with EPS of $4.75 missing estimates and revenue of $78.36 billion also below expectations, though sales still rose 3.9% year over year.
• The company announced a $2 billion share buyback and continued its quarterly dividend of $0.60 per share, while analysts currently rate the stock a “Moderate Buy” with an average price target of $367.75.

Assetmark Inc. increased its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,851 shares of the company's stock after purchasing an additional 4,570 shares during the period. Assetmark Inc.'s holdings in Cencora were worth $22,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC bought a new position in shares of Cencora during the first quarter valued at $221,000. C WorldWide Group Holding A S lifted its holdings in Cencora by 39.7% during the 1st quarter. C WorldWide Group Holding A S now owns 6,588 shares of the company's stock valued at $2,070,000 after purchasing an additional 1,873 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Cencora by 7.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 413,051 shares of the company's stock valued at $131,210,000 after buying an additional 29,983 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Cencora in the first quarter valued at about $5,181,000. Finally, D.A. Davidson & CO. grew its stake in Cencora by 3.2% during the first quarter. D.A. Davidson & CO. now owns 1,876 shares of the company's stock worth $589,000 after buying an additional 59 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR opened at $307.72 on Friday. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59. The stock has a market capitalization of $59.87 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The company's 50 day simple moving average is $279.98 and its 200-day simple moving average is $317.68. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54.

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

Cencora announced that its Board of Directors has authorized a stock buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's payout ratio is presently 18.40%.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the business's stock in a transaction dated 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 completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

COR has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Robert W. Baird decreased their price target on Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Evercore set a $360.00 price target on Cencora in a report on Wednesday, April 8th. Morgan Stanley set a $342.00 price objective on Cencora in a research report on Friday, May 8th. Finally, Citigroup reduced their price objective on Cencora from $405.00 to $355.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Eleven investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $367.75.

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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