NEOS Investment Management LLC Has $8.87 Million Stake in Cencora, Inc. $COR

NEOS Investment Management LLC increased its position in Cencora, Inc. (NYSE:COR) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,358 shares of the company’s stock after buying an additional 4,060 shares during the period. NEOS Investment Management LLC’s holdings in Cencora were worth $8,874,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora in the 4th quarter valued at $25,000. Elyxium Wealth LLC acquired a new stake in Cencora in the 4th quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its stake in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in Cencora in the 2nd quarter worth $28,000. Finally, Caitlin John LLC bought a new position in shares of Cencora during the 2nd quarter worth about $28,000. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction dated 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 directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, Barclays lowered their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

Shares of COR stock opened at $330.52 on Friday. 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 firm’s 50 day moving average is $312.33 and its 200-day moving average is $309.88. The firm has a market capitalization of $63.07 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.88 and a beta of 0.57.

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

Cencora announced that its board has authorized a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

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.