Meeder Asset Management Inc. Sells 13,425 Shares of Cencora, Inc. $COR

Key Points

• Meeder Asset Management cut its Cencora stake by 99.1% in the first quarter, selling 13,425 shares and leaving just 127 shares valued at about $40,000.
• Wall Street remains broadly positive on Cencora, with 11 Buy ratings and 3 Hold ratings; the consensus target price is $367.75, and the stock has a “Moderate Buy” rating overall.
• Cencora recently missed quarterly earnings and revenue estimates, but it also announced a $2 billion share repurchase plan and paid a quarterly dividend of $0.60 per share, equal to a 0.8% yield.

Meeder Asset Management Inc. lessened its position in Cencora, Inc. (NYSE:COR - Free Report) by 99.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127 shares of the company's stock after selling 13,425 shares during the period. Meeder Asset Management Inc.'s holdings in Cencora were worth $40,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Cencora in the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new stake in shares of Cencora during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora in the fourth quarter valued at approximately $27,000. Archer Investment Corp raised its stake in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Cencora in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COR. UBS Group increased their price target on Cencora from $410.00 to $412.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Citigroup cut their price objective on Cencora from $405.00 to $355.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Evercore set a $360.00 price objective on Cencora in a research note on Wednesday, April 8th. Robert W. Baird decreased their target price on Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Finally, Morgan Stanley set a $342.00 target price on Cencora in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $367.75.

Cencora Stock Performance

Shares of Cencora stock opened at $300.90 on Thursday. 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 firm has a market cap of $58.54 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.68 and a beta of 0.58. The firm has a 50 day simple moving average of $282.60 and a 200 day simple moving average of $316.76. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week 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). The company 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 business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.42 EPS. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Sell-side analysts predict that Cencora, Inc. will post 17.79 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Cencora declared that its board has initiated a share repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity

In other news, Director Lauren M. Tyler purchased 550 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

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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