Portfolio Design Labs LLC Acquires Shares of 3,453 Cencora, Inc. $COR

Portfolio Design Labs LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,453 shares of the company’s stock, valued at approximately $977,000.

A number of other institutional investors also recently modified their holdings of COR. ExodusPoint Capital Management LP bought a new stake in Cencora in the fourth quarter valued at $16,487,000. Impact Partnership Wealth LLC bought a new position in Cencora in the 1st quarter worth $1,170,000. SEB Asset Management AB bought a new position in Cencora in the 1st quarter worth $134,139,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Cencora in the 4th quarter worth about $59,145,000. Finally, Wedge Capital Management L L P NC lifted its position in shares of Cencora by 31.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock worth $29,887,000 after purchasing an additional 24,968 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Down 0.6%

NYSE:COR opened at $315.15 on Friday. The firm has a market capitalization of $60.14 billion, a P/E ratio of 23.41, a PEG ratio of 1.82 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company’s 50-day simple moving average is $301.86 and its 200 day simple moving average is $311.85.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating 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 business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter last year, the firm earned $4.00 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Cencora declared that its board has initiated a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Royal Bank Of Canada initiated coverage on Cencora in a research report on Wednesday. They set a “sector perform” rating and a $330.00 price objective on the stock. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, 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 report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction 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 of the company’s stock, valued at $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. Insiders own 0.38% of the company’s stock.

Cencora Company 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.