Nykredit A S purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 78,252 shares of the company's stock, valued at approximately $22,144,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora in the fourth quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in Cencora during the fourth quarter valued at about $27,000. 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 valued at $27,000 after acquiring an additional 81 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in Cencora in the 2nd quarter valued at approximately $28,000. Finally, Caitlin John LLC bought a new stake in shares of Cencora in the 2nd quarter worth approximately $28,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Cencora news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction on Monday, June 22nd. The shares were bought 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 owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
COR has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. UBS Group raised their target price on Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research 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. Morgan Stanley boosted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada initiated coverage on shares of Cencora in a research note on Wednesday, August 19th. They issued a "sector perform" rating and a $330.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and an average target price of $370.85.
Check Out Our Latest Report on Cencora
Cencora Price Performance
NYSE:COR opened at $336.77 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market cap of $64.27 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.91 and a beta of 0.57. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company's 50-day moving average price is $311.45 and its two-hundred day moving average price is $309.74.
Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.00 earnings per share. On average, equities analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora declared that its Board of Directors has initiated a share buyback program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.
Cencora Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora's payout ratio is presently 17.83%.
Cencora Profile
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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.
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