Insight Wealth Strategies LLC Purchases 6,648 Shares of Cencora, Inc. $COR

Insight Wealth Strategies LLC grew its position in Cencora, Inc. (NYSE:COR) by 37.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,319 shares of the company’s stock after buying an additional 6,648 shares during the period. Insight Wealth Strategies LLC’s holdings in Cencora were worth $7,014,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after acquiring an additional 4,123,795 shares during the period. Norges Bank acquired a new stake in shares of Cencora during the fourth quarter worth about $822,506,000. Marshall Wace LLP raised its position in shares of Cencora by 518.9% during the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after purchasing an additional 1,672,762 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cencora by 528.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company’s stock valued at $461,250,000 after purchasing an additional 1,241,186 shares in the last quarter. Finally, Viking Global Investors LP lifted its holdings in shares of Cencora by 95.0% during the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock valued at $624,207,000 after purchasing an additional 1,013,913 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

COR has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday. Evercore reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. UBS Group upped 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. Barclays dropped their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Finally, Bank of America boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Insider Transactions at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 2.5%

NYSE COR opened at $333.21 on Wednesday. Cencora, Inc. has a 52 week low of $244.82 and a 52 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 stock’s 50 day moving average price is $296.42 and its two-hundred day moving average price is $313.81. The stock has a market capitalization of $64.83 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.87 and a beta of 0.57.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $84.31 billion. During the same period last year, the business earned $4.00 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.60 dividend. 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 0.7%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora declared that its board has authorized a stock buyback program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.