2,373 Shares in Cencora, Inc. $COR Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,373 shares of the company’s stock, valued at approximately $671,000.

A number of other hedge funds also recently made changes to their positions in COR. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora during the 4th quarter valued at $25,000. Oakworth Capital Inc. purchased a new position in shares of Cencora in the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in Cencora in the fourth quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Finally, Archer Investment Corp grew its position in Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird set a $370.00 target price on Cencora in a report on Thursday, August 6th. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company lifted 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. Evercore reiterated an “outperform” rating and set a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Finally, Barclays dropped their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

COR opened at $317.89 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The firm has a market cap of $60.66 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The company has a fifty day simple moving average of $302.59 and a 200 day simple moving average of $311.89.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 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 analyst estimates 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 quarter in the previous year, the business posted $4.00 EPS. Equities research analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

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.