B. Metzler seel. Sohn & Co. AG acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 34,005 shares of the company's stock, valued at approximately $9,623,000.
A number of other institutional investors have also added to or reduced their stakes in the company. ExodusPoint Capital Management LP bought a new position in Cencora in the 4th quarter valued at about $16,487,000. Impact Partnership Wealth LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $1,170,000. SEB Asset Management AB bought a new position in shares of Cencora during the first quarter worth approximately $134,139,000. PFA Pension Forsikringsaktieselskab bought a new position in shares of Cencora during the fourth quarter worth approximately $59,145,000. Finally, Wedge Capital Management L L P NC lifted its holdings in Cencora by 31.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company's stock worth $29,887,000 after purchasing an additional 24,968 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Citigroup reissued a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. Evercore reaffirmed an "outperform" rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. William Blair started coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a "market perform" rating for the company. Finally, Royal Bank Of Canada started coverage on shares of Cencora in a report on Wednesday. They issued a "sector perform" rating and a $330.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $370.85.
View Our Latest Report on Cencora
Cencora Trading Down 0.6%
COR opened at $315.15 on Friday. The stock has a market capitalization of $60.14 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 1.82 and a beta of 0.57. 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, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a 50-day simple moving average of $301.86 and a 200 day simple moving average of $311.85.
Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora's dividend payout ratio (DPR) is currently 17.83%.
Cencora declared that its Board of Directors has approved a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.
Insider Activity
In other Cencora news, Director Lauren M. Tyler bought 550 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.38% of the company's stock.
About Cencora
(
Free Report)
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.
See Also
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