7,354 Shares in Cencora, Inc. $COR Acquired by Paralel Advisors LLC

Paralel Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,354 shares of the company’s stock, valued at approximately $2,081,000.

Several other institutional investors have also added to or reduced their stakes in COR. United Bank lifted its holdings in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after purchasing an additional 305 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Cencora in the 2nd quarter worth about $595,000. Treasurer of the State of North Carolina raised its position in Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after buying an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC raised its position in Cencora by 94.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after buying an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake 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 valued at $22,025,000 after acquiring an additional 15,154 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of NYSE COR opened at $315.15 on Friday. The firm has a fifty day moving average price of $301.86 and a 200-day moving average price of $311.85. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The stock has a market cap of $60.14 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share 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 analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.00 EPS. Equities analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

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 repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Cencora Dividend Announcement

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 issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Barclays decreased their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wells Fargo & Company lifted their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. William Blair initiated coverage on Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

About Cencora

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.