Paralel Advisors LLC Lowers Stock Holdings in Cencora, Inc. $COR

Paralel Advisors LLC reduced its position in Cencora, Inc. (NYSE:COR) by 23.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,354 shares of the company’s stock after selling 2,265 shares during the quarter. Paralel Advisors LLC’s holdings in Cencora were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of COR. United Bank increased its stake in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Cencora in the second quarter valued at $595,000. Treasurer of the State of North Carolina boosted its holdings in Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after purchasing an additional 6,244 shares during the period. Diversify Advisory Services LLC grew its stake in Cencora by 94.1% during the 2nd 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Cencora by 26.0% during the 2nd 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 during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COR shares. 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. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Bank of America boosted their price target on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Morgan Stanley increased their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Stock Down 0.1%

Cencora stock opened at $330.52 on Monday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market capitalization of $63.07 billion, a P/E ratio of 24.56, a PEG ratio of 1.88 and a beta of 0.57. The stock has a 50-day simple moving average of $312.33 and a 200-day simple moving average of $309.52.

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

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.60 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is currently 17.83%.

Cencora declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is currently owned by corporate insiders.

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.