OMERS ADMINISTRATION Corp Invests $2.87 Million in Cencora, Inc. $COR

OMERS ADMINISTRATION Corp acquired a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,146 shares of the company’s stock, valued at approximately $2,871,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new stake in Cencora in the 4th quarter valued at about $16,487,000. Impact Partnership Wealth LLC bought a new position in Cencora during the first quarter worth about $1,170,000. SEB Asset Management AB acquired a new position in Cencora during the first quarter worth approximately $134,139,000. PFA Pension Forsikringsaktieselskab acquired a new position in Cencora during the fourth quarter worth approximately $59,145,000. Finally, Summit Global Investments bought a new stake in Cencora in the second quarter valued at approximately $2,283,000. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction on 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 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 SEC filing for this sale provides additional information. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company boosted 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. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Finally, Barclays reduced their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Up 1.4%

Cencora stock opened at $328.28 on Wednesday. The company’s 50-day moving average price is $304.37 and its two-hundred day moving average price is $311.24. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The stock has a market cap of $62.65 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.86 and a beta of 0.57. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping 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 company had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the company posted $4.00 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora announced that its board has initiated a share buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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 is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is 17.83%.

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.