Vega Investment Solutions Buys Shares of 9,111 Cencora, Inc. $COR

Vega Investment Solutions 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 and Exchange Commission (SEC). The firm bought 9,111 shares of the company’s stock, valued at approximately $2,578,000.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Accent Capital Management LLC raised its position in Cencora by 36.1% in the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares during the period. MCF Advisors LLC boosted its position in shares of Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after buying an additional 30 shares during the period. CYBER HORNET ETFs LLC grew its stake in shares of Cencora by 6.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after buying an additional 31 shares in the last quarter. Steph & Co. raised its holdings in shares of Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after buying an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its stake in Cencora by 1.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after acquiring an additional 37 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COR has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. William Blair initiated coverage on Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating on the stock. Royal Bank Of Canada started coverage on Cencora in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen 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 has a consensus rating of “Moderate Buy” and an average price target of $370.85.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction dated 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 acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Up 1.7%

Shares of NYSE COR opened at $323.56 on Tuesday. The business has a 50-day moving average of $303.43 and a two-hundred day moving average of $311.25. The company has a market capitalization of $61.75 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. 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 (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for 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 business posted $4.00 EPS. On average, analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders 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 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora declared that its board has initiated a share repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.