Corient Private Wealth LP Acquires New Position in Cencora, Inc. $COR

Corient Private Wealth LP acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, HoldingsChannel reports. The firm acquired 42,766 shares of the company’s stock, valued at approximately $12,101,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Accent Capital Management LLC increased its stake in shares of Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Cencora by 11.0% during the 4th 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 last quarter. CYBER HORNET ETFs LLC increased its position in Cencora by 6.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares in the last quarter. Steph & Co. increased its position in Cencora by 23.5% during the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after purchasing an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its stake in Cencora by 1.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after purchasing an additional 37 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Morgan Stanley upped their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, UBS Group upped their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Stock Performance

NYSE COR opened at $322.12 on Friday. The company has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.85 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. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The stock has a fifty day simple moving average of $307.38 and a 200 day simple moving average of $310.88.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the business earned $4.00 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is 17.83%.

Cencora declared that its board has authorized a stock buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren M. Tyler acquired 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 completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is currently 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.