Flputnam Investment Management Co. Makes New Investment in Cencora, Inc. $COR

Flputnam Investment Management Co. purchased a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,711 shares of the company’s stock, valued at approximately $1,899,000.

Other hedge funds also recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new position in Cencora in the 4th quarter worth about $16,487,000. Impact Partnership Wealth LLC purchased a new stake in Cencora during the first quarter valued at about $1,170,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cencora by 162.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 289,370 shares of the company’s stock valued at $97,735,000 after buying an additional 179,086 shares in the last quarter. SEB Asset Management AB acquired a new position in shares of Cencora in the first quarter worth about $134,139,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Cencora in the fourth quarter worth about $59,145,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COR shares. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. UBS Group boosted their target price on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley increased their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Barclays decreased their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company lifted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $374.25.

Cencora Price Performance

Shares of NYSE:COR opened at $312.51 on Tuesday. The firm has a market cap of $59.64 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 1.80 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The business has a fifty day simple moving average of $299.75 and a 200 day simple moving average of $312.64.

Cencora (NYSE:COR) last issued 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 firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the previous year, the company posted $4.00 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora declared that its Board of Directors has approved a stock buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cencora Announces Dividend

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

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.