9,111 Shares in Cencora, Inc. $COR Bought by Vega Investment Solutions

Vega Investment Solutions acquired a new stake in Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel reports. The firm acquired 9,111 shares of the company’s stock, valued at approximately $2,578,000.

Other hedge funds have also made changes to their positions in the company. United Bank increased its holdings in shares of Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after purchasing an additional 305 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Cencora during the second quarter worth $595,000. Treasurer of the State of North Carolina grew its position in Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after buying an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC increased its stake in Cencora by 94.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Cencora by 26.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after buying an additional 15,154 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of several analyst reports. UBS Group lifted their target price on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, William Blair assumed coverage on Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Up 1.7%

Shares of NYSE COR opened at $323.56 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The firm has a 50-day moving average price of $303.43 and a 200 day moving average price of $311.25. The stock has a market capitalization of $61.75 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same period in the prior year, the business posted $4.00 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared 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 dividend yield of 0.7%. Cencora’s dividend payout ratio is currently 17.83%.

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

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction that occurred on 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 purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

About Cencora

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.