Hsbc Holdings PLC Buys 216,465 Shares of Cencora, Inc. $COR

Hsbc Holdings PLC lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 38.8% during the second quarter, Holdings Channel reports. The fund owned 773,956 shares of the company’s stock after buying an additional 216,465 shares during the quarter. Hsbc Holdings PLC’s holdings in Cencora were worth $218,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in Cencora in the fourth quarter valued at $25,000. Elyxium Wealth LLC bought a new position in shares of Cencora during the 4th quarter worth about $27,000. Elevation Wealth Partners LLC boosted its position in shares of Cencora by 506.2% during 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 in the last quarter. Bell Investment Advisors Inc acquired a new stake in shares of Cencora in the 2nd quarter valued at about $28,000. Finally, Caitlin John LLC acquired a new stake in shares of Cencora in the 2nd quarter valued at about $28,000. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought at an average price 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 trade represents a 14.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on COR shares. 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 report on Friday, August 7th. Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Trading Down 0.1%

COR opened at $330.52 on Monday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a market capitalization of $63.07 billion, a PE ratio of 24.56, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company’s 50-day moving average is $312.33 and its 200 day moving average is $309.52.

Cencora (NYSE:COR) last released its quarterly earnings results 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 business 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 company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.00 EPS. As a group, research analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora declared that its board has approved a stock buyback program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

Cencora Announces Dividend

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

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.