Bryn Mawr Trust Advisors LLC Makes New Investment in Cencora, Inc. $COR

Bryn Mawr Trust Advisors LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,301 shares of the company’s stock, valued at approximately $934,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Cencora by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after purchasing an additional 221,570 shares in the last quarter. State Street Corp increased its position in shares of Cencora by 1.3% in the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after buying an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after buying an additional 4,123,795 shares during the period. Geode Capital Management LLC raised its stake in shares of Cencora by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after buying an additional 169,055 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Cencora by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock worth $1,682,859,000 after buying an additional 304,760 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was 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. This trade 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 is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on COR. Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. William Blair began coverage on shares of Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Bank of America boosted their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cencora Price Performance

Shares of NYSE COR opened at $313.86 on Friday. The firm has a 50-day simple moving average of $298.98 and a 200-day simple moving average of $313.24. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The stock has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm 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 earnings per share. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Cencora announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication 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.