Trivium Point Advisory LLC Makes New Investment in Cencora, Inc. $COR

Trivium Point Advisory LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel reports. The institutional investor bought 1,806 shares of the company’s stock, valued at approximately $511,000.

Other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after buying an additional 4,123,795 shares during the last quarter. Norges Bank acquired a new position in Cencora in the fourth quarter valued at approximately $822,506,000. Marshall Wace LLP boosted its stake in Cencora by 518.9% in the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock valued at $623,534,000 after acquiring an additional 1,672,762 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cencora by 528.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company’s stock valued at $461,250,000 after acquiring an additional 1,241,186 shares during the last quarter. Finally, Viking Global Investors LP grew its holdings in Cencora by 95.0% during the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock worth $624,207,000 after acquiring an additional 1,013,913 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $313.86 on Monday. The stock has a market capitalization of $59.89 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a 50 day moving average of $298.98 and a 200-day moving average of $312.94. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $4.00 earnings per share. As a group, equities research analysts forecast that Cencora, Inc. will post 17.84 EPS 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s payout ratio is presently 17.83%.

Cencora declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on COR shares. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. UBS Group lifted their price objective on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company upped their price objective on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Transactions at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

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.