Public Employees Retirement System of Ohio Makes New Investment in Cencora, Inc. $COR

Public Employees Retirement System of Ohio acquired a new position in Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 59,186 shares of the company’s stock, valued at approximately $16,748,000.

Several other institutional investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in Cencora in the 4th quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in shares of Cencora during the 4th quarter valued at about $27,000. Elevation Wealth Partners LLC grew its stake in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after purchasing an additional 81 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in shares of Cencora in the 2nd quarter worth approximately $28,000. Finally, Motiv8 Investments LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating and set a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley boosted 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. Finally, Bank of America upped their target price on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $370.85.

Cencora Stock Performance

COR stock opened at $322.12 on Friday. The firm has a 50 day simple moving average of $307.38 and a 200 day simple moving average of $310.88. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The stock has a market cap of $61.47 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.85 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter last year, the firm earned $4.00 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Cencora announced that its Board of Directors has initiated a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. Corporate 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.