Bryn Mawr Trust Advisors LLC Takes $934,000 Position in Cencora, Inc. $COR

Bryn Mawr Trust Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,301 shares of the company’s stock, valued at approximately $934,000.

Other institutional investors also recently added to or reduced their stakes in the company. Laraway Financial Advisors Inc purchased a new position in Cencora in the second quarter valued at about $821,000. Trust Asset Management LLC raised its holdings in Cencora by 9.3% in the second quarter. Trust Asset Management LLC now owns 2,130 shares of the company’s stock worth $603,000 after purchasing an additional 181 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Cencora by 31.0% during the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after buying an additional 24,968 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Cencora by 37.6% during the second quarter. Insight Wealth Strategies LLC now owns 24,319 shares of the company’s stock valued at $7,014,000 after buying an additional 6,648 shares during the last quarter. Finally, Tema ETFs LLC boosted its holdings in shares of Cencora by 7.6% in the 2nd quarter. Tema ETFs LLC now owns 4,122 shares of the company’s stock valued at $1,166,000 after buying an additional 290 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 1.2%

COR stock opened at $313.86 on Friday. The firm’s fifty day simple moving average is $298.98 and its 200-day simple moving average is $313.24. The company has a market capitalization of $59.89 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 1.78 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. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.00 earnings per share. As a group, equities research analysts forecast that Cencora, Inc. will post 17.84 earnings per share for the current year.

Cencora declared that its board has authorized a stock repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio is presently 17.83%.

Insider Buying and Selling

In related news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The stock was bought 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 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. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COR. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Bank of America raised their target price on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Barclays reduced their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. increased their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

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.