Perigon Wealth Management LLC Takes $585,000 Position in Cencora, Inc. $COR

Perigon Wealth Management LLC bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,069 shares of the company’s stock, valued at approximately $585,000.

Other institutional investors have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new position in shares of Cencora during the fourth quarter valued at about $16,487,000. Impact Partnership Wealth LLC acquired a new position in Cencora during the 1st quarter worth approximately $1,170,000. SEB Asset Management AB bought a new position in Cencora in the first quarter worth approximately $134,139,000. PFA Pension Forsikringsaktieselskab bought a new position in Cencora in the fourth quarter worth approximately $59,145,000. Finally, Robeco Schweiz AG acquired a new stake in Cencora in the fourth quarter valued at approximately $7,329,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Performance

Shares of Cencora stock opened at $316.78 on Thursday. The business’s fifty day simple moving average is $301.20 and its 200 day simple moving average is $312.16. 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 firm has a market capitalization of $60.45 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.81 and a beta of 0.57.

Cencora (NYSE:COR) last announced 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. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.00 EPS. As a group, analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora declared that its Board of Directors has approved a share repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is 17.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada began coverage on shares of Cencora in a report on Wednesday. They set a “sector perform” rating and a $330.00 price objective on the stock. UBS Group lifted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus 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.