OMERS ADMINISTRATION Corp Makes New $2.87 Million Investment in Cencora, Inc. $COR

OMERS ADMINISTRATION Corp acquired a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 10,146 shares of the company’s stock, valued at approximately $2,871,000.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Cencora in the second quarter worth $5,154,136,000. State Street Corp raised its stake in Cencora by 1.3% in the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after purchasing an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Geode Capital Management LLC lifted its position in Cencora by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Cencora by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock worth $1,682,859,000 after buying an additional 304,760 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on COR shares. 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 report on Thursday, August 6th. Royal Bank Of Canada started coverage on shares of Cencora in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price target on the stock. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley boosted their price objective 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. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Up 1.4%

Shares of NYSE COR opened at $328.28 on Wednesday. The company has a market cap of $62.65 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.86 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The stock has a 50-day moving average price of $304.37 and a two-hundred day moving average price of $311.24.

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

Cencora announced that its Board of Directors has approved a share buyback plan on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given 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 0.7%. Cencora’s dividend payout ratio (DPR) is currently 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.