Summit Global Investments Invests $2.28 Million in Cencora, Inc. $COR

Summit Global Investments acquired a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,066 shares of the company’s stock, valued at approximately $2,283,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COR. Kemnay Advisory Services Inc. purchased a new position in Cencora in the 4th quarter worth $25,000. Oakworth Capital Inc. purchased a new stake in Cencora during the fourth quarter valued at about $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora during the fourth quarter valued at about $27,000. Archer Investment Corp grew its stake in shares of Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new position in shares of Cencora in the fourth quarter worth about $29,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on COR shares. Robert W. Baird set a $370.00 target price on Cencora in a research note on Thursday, August 6th. Morgan Stanley raised their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Cencora Price Performance

Shares of COR stock opened at $313.86 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a market cap of $59.89 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.78 and a beta of 0.57. The business’s 50 day moving average price is $298.98 and its 200-day moving average price is $313.24.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the company earned $4.00 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Cencora, Inc. will post 17.84 earnings per share for the current year.

Cencora declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders 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 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio is 17.83%.

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.