AXQ Capital LP Acquires 11,183 Shares of Cencora, Inc. $COR

Key Points

• AXQ Capital significantly increased its Cencora stake by 342.9% in the second quarter, adding 11,183 shares and bringing its total holdings to 14,444 shares valued at approximately $4.09 million.
• 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 board also authorized a $2 billion share-repurchase program.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $370.85.

AXQ Capital LP boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 342.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,444 shares of the company's stock after purchasing an additional 11,183 shares during the period. AXQ Capital LP's holdings in Cencora were worth $4,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora during the 4th quarter valued at about $25,000. Elyxium Wealth LLC bought a new stake in shares of Cencora during the 4th quarter valued at $27,000. Motiv8 Investments LLC purchased a new stake in shares of Cencora in the 4th quarter worth $29,000. Basepoint Wealth LLC purchased a new stake in shares of Cencora in the 4th quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, Director Lauren M. Tyler purchased 550 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction 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. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on COR shares. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Morgan Stanley upped their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Barclays dropped their price objective on Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and an average price target of $370.85.

Cencora Stock Performance

Shares of NYSE:COR opened at $336.77 on Friday. The stock has a market capitalization of $64.27 billion, a P/E ratio of 25.02, a PEG ratio of 1.91 and a beta of 0.57. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The firm has a fifty day simple moving average of $311.45 and a two-hundred day simple moving average of $309.74. 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 issued 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 company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same period last year, the company earned $4.00 earnings per share. Cencora's revenue was up 5.1% on a year-over-year basis. On average, 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 buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's dividend payout ratio (DPR) is currently 17.83%.

About Cencora

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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