Diversify Advisory Services LLC Buys Shares of 8,769 Cencora, Inc. $COR

Diversify Advisory Services LLC bought a new position in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,769 shares of the company’s stock, valued at approximately $2,729,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Cencora during the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cencora by 160.1% in 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 buying an additional 4,123,795 shares during the last quarter. Norges Bank bought a new stake in Cencora during the fourth quarter valued at approximately $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cencora during the second quarter valued at approximately $483,772,000. Finally, Marshall Wace LLP increased its holdings in Cencora by 518.9% during the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock valued at $623,534,000 after buying an additional 1,672,762 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COR has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Bank of America boosted their price target on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Evercore reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Cencora Stock Up 1.2%

Shares of COR opened at $316.38 on Wednesday. The business’s 50 day moving average is $300.49 and its 200 day moving average is $312.40. 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 company has a market capitalization of $60.37 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.57.

Cencora (NYSE:COR) last posted its quarterly 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 return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the prior year, the company posted $4.00 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio is currently 17.83%.

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

Insiders Place Their Bets

In related news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

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.