Occidental Asset Management LLC Purchases Shares of 20,097 Cencora, Inc. $COR

Key Points

• Occidental Asset Management purchased 20,097 shares of Cencora, valued at approximately $5.7 million. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly EPS of $4.48, exceeding estimates of $4.35, while revenue reached $84.75 billion and rose 5.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $374.25.
• The company declared a quarterly dividend of $0.60 per share, equal to a 0.8% annualized yield, and authorized a $2 billion share-buyback program covering up to 3.9% of outstanding shares.

Occidental Asset Management LLC purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,097 shares of the company's stock, valued at approximately $5,687,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new stake in Cencora during the fourth quarter worth approximately $25,000. Oakworth Capital Inc. acquired a new stake in shares of Cencora during the fourth quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora during the fourth quarter worth about $27,000. Archer Investment Corp lifted its stake in 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 buying an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Cencora in the 4th quarter valued at $29,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on COR shares. Citigroup reaffirmed a "buy" rating on shares of Cencora in a report on Thursday, August 6th. William Blair initiated coverage on Cencora in a report on Tuesday, April 28th. They issued a "market perform" rating for the company. Weiss Ratings raised Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price objective 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. Finally, Robert W. Baird set a $370.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and an average price target of $374.25.

Cencora Trading Down 0.4%

Shares of COR stock opened at $312.51 on Tuesday. The company has a market capitalization of $59.64 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 1.80 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The firm has a 50-day moving average price of $299.75 and a 200 day moving average price of $312.64. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion for 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%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $4.00 EPS. Research analysts forecast that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Cencora declared that its Board of Directors has approved 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 buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased 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 approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company's stock.

Cencora 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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