Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Cencora, Inc. $COR

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 17,196 shares of the company’s stock, valued at approximately $4,866,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COR. ExodusPoint Capital Management LP bought a new stake in Cencora in the fourth quarter worth about $16,487,000. Impact Partnership Wealth LLC bought a new position in shares of Cencora during the 1st quarter valued at approximately $1,170,000. SEB Asset Management AB bought a new position in shares of Cencora during the 1st quarter valued at approximately $134,139,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Cencora during the 4th quarter worth approximately $59,145,000. Finally, Summit Global Investments purchased a new stake in shares of Cencora during the 2nd quarter worth approximately $2,283,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.0%

Shares of COR stock opened at $317.89 on Monday. The company’s fifty day simple moving average is $302.59 and its two-hundred day simple moving average is $311.52. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a market capitalization of $60.66 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) 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 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 prior year, the business posted $4.00 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current year.

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

Cencora Announces Dividend

The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend 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 17.83%.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COR shares. Citigroup reiterated a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley raised their target price on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. William Blair began coverage on Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating on the stock. Finally, Bank of America increased their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

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.