Daiichi Life Insurance Co. Ltd. Acquires New Shares in Cencora, Inc. $COR

Key Points

• Daiichi Life Insurance acquired 55,453 Cencora shares worth approximately $15.7 million in the second quarter. Institutional investors now own 97.52% of the company, while a Cencora director also increased her holdings by 14.44% through a share purchase.
• Cencora exceeded quarterly expectations, reporting $4.48 in earnings per share and $84.75 billion in revenue, with revenue rising 5.1% year over year. The board also authorized a $2 billion stock-repurchase program, covering up to 3.9% of outstanding shares.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $370.85 versus the stock’s reported $317.89 opening price. Cencora also declared a quarterly dividend of $0.60 per share, yielding 0.8% annually.

Daiichi Life Insurance Co. Ltd. acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 55,453 shares of the company's stock, valued at approximately $15,692,000.

A number of other large investors have also recently bought and sold shares of COR. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora in the fourth quarter worth about $25,000. Oakworth Capital Inc. acquired a new position in shares of Cencora during the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in shares of Cencora during the 4th quarter valued at about $27,000. Elevation Wealth Partners LLC raised its stake in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. Finally, Archer Investment Corp raised its stake in shares of Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after acquiring an additional 47 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company's stock.

Cencora Price Performance

NYSE COR opened at $317.89 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a market capitalization of $60.66 billion, a PE ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. The stock has a 50-day simple moving average of $302.59 and a 200 day simple moving average of $311.89.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the business posted $4.00 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is presently 17.83%.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays dropped their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 10th. Citigroup restated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Bank of America upped their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Thirteen investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $370.85.

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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