Insight Wealth Strategies LLC Has $7.01 Million Position in Cencora, Inc. $COR

Insight Wealth Strategies LLC grew its position in Cencora, Inc. (NYSE:COR) by 37.6% in the second quarter, HoldingsChannel.com reports. The fund owned 24,319 shares of the company’s stock after buying an additional 6,648 shares during the period. Insight Wealth Strategies LLC’s holdings in Cencora were worth $7,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of COR. Assetmark Inc. boosted its position in Cencora by 57.0% during the fourth quarter. Assetmark Inc. now owns 67,281 shares of the company’s stock worth $22,724,000 after purchasing an additional 24,431 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Cencora in the fourth quarter valued at $16,487,000. Impact Partnership Wealth LLC acquired a new position in shares of Cencora in the first quarter valued at $1,170,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cencora by 162.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 289,370 shares of the company’s stock valued at $97,735,000 after purchasing an additional 179,086 shares during the period. Finally, SEB Asset Management AB bought a new position in shares of Cencora in the first quarter valued at about $134,139,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COR has been the subject of several research reports. Bank of America lifted their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Morgan Stanley boosted their target price on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Cencora Trading Up 2.5%

Shares of COR stock opened at $333.21 on Wednesday. The stock has a market cap of $64.83 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.87 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 stock has a 50 day simple moving average of $296.42 and a 200 day simple moving average of $313.81.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

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

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

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.