Portfolio Design Labs LLC Makes New Investment in Cencora, Inc. $COR

Key Points

• Portfolio Design Labs LLC initiated a Cencora position of 3,453 shares worth approximately $977,000 in the second quarter. Institutional investors own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting $4.48 in EPS and $84.75 billion in revenue, with revenue up 5.1% year over year. The board also authorized a $2 billion share-repurchase program.
• Wall Street remains positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $370.85, compared with a recent share price of $315.15.

Portfolio Design Labs LLC bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,453 shares of the company's stock, valued at approximately $977,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COR. Accent Capital Management LLC raised its holdings in shares of Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company's stock worth $38,000 after purchasing an additional 30 shares during the period. MCF Advisors LLC grew its holdings in Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company's stock valued at $102,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC grew its holdings in Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company's stock valued at $164,000 after purchasing an additional 31 shares during the period. Steph & Co. increased its position in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company's stock worth $53,000 after buying an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company's stock worth $1,180,000 after buying an additional 37 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

NYSE:COR opened at $315.15 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The stock has a market cap of $60.14 billion, a P/E ratio of 23.41, a PEG 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. The business's 50-day moving average price is $301.86 and its two-hundred day moving average price is $311.85.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS 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 business had revenue of $84.75 billion during the quarter, compared to analysts' expectations of $84.31 billion. During the same quarter in the previous year, the company earned $4.00 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its board has authorized a share repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio is currently 17.83%.

Insider Activity

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COR. UBS Group upped their price target on Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Citigroup restated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. William Blair assumed coverage on shares of Cencora in a report on Tuesday, April 28th. They set a "market perform" rating on the stock. Finally, Evercore reiterated an "outperform" rating and set a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $370.85.

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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