PDT Partners LLC Acquires Shares of 3,740 Cencora, Inc. $COR

PDT Partners LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,740 shares of the company’s stock, valued at approximately $1,058,000.

Several other large investors have also made changes to their positions in COR. BlackRock Inc. acquired a new stake in Cencora in the 2nd quarter valued at $5,154,136,000. T. Rowe Price Investment Management Inc. raised its position in Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the period. Norges Bank acquired a new position in Cencora during the fourth quarter worth $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Cencora during the second quarter valued at $483,772,000. Finally, Marshall Wace LLP grew its position in shares of Cencora by 518.9% in the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock valued at $623,534,000 after purchasing an additional 1,672,762 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction on Monday, June 22nd. The shares were bought at an average price 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 $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

Cencora Price Performance

Cencora stock opened at $327.94 on Thursday. 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 50-day moving average price of $305.39 and a 200 day moving average price of $311.07. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The stock has a market cap of $62.58 billion, a P/E ratio of 24.36, a PEG ratio of 1.88 and a beta of 0.57.

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

Cencora declared that its board has approved a share buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on COR. UBS Group upped their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays reduced their price objective on 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 target price on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Evercore restated an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock 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.