West Family Investments Inc. Buys Shares of 2,805 Cencora, Inc. $COR

West Family Investments Inc. purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,805 shares of the company’s stock, valued at approximately $794,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. United Bank increased its holdings in Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after acquiring an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Cencora during the second quarter valued at about $595,000. Treasurer of the State of North Carolina boosted its position in Cencora by 7.9% during the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after purchasing an additional 6,244 shares during the period. Diversify Advisory Services LLC boosted its position in Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after purchasing an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after purchasing an additional 15,154 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

COR has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. UBS Group lifted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Barclays dropped their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Stock Performance

NYSE:COR opened at $316.78 on Thursday. The stock has a market cap of $60.45 billion, a P/E ratio of 23.53, a PEG ratio of 1.81 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 $301.20 and its two-hundred day moving average price is $312.16. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.00 earnings per share. As a group, equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The business 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 payout ratio is currently 17.83%.

Cencora declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by 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.