Meeder Advisory Services Inc. Purchases New Stake in Cencora, Inc. $COR

Meeder Advisory Services Inc. purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,453 shares of the company’s stock, valued at approximately $1,543,000.

Several other institutional investors also recently bought and sold shares of COR. Pavion Blue Capital LLC acquired a new stake in shares of Cencora in the second quarter worth $218,000. UNIVEST FINANCIAL Corp acquired a new position in shares of Cencora during the 2nd quarter valued at $220,000. MidFirst Bank acquired a new position in shares of Cencora during the 2nd quarter valued at $168,000. BlackRock Inc. acquired a new position in shares of Cencora during the 2nd quarter valued at $5,154,136,000. Finally, Occidental Asset Management LLC purchased a new stake in Cencora during the 2nd quarter worth $5,687,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Robert W. Baird set a $370.00 target price on Cencora in a research report on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating 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, Cencora presently has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Activity

In related news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares in the company, 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 the SEC website. Company insiders own 0.38% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $316.78 on Thursday. 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 firm has a 50-day moving average of $301.20 and a two-hundred day moving average of $312.16. The stock has a market cap of $60.45 billion, a P/E ratio of 23.53, a PEG ratio of 1.81 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 announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.00 earnings per share. On average, research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given 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 dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

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