Quartz Partners LLC Buys Shares of 15,650 Cencora, Inc. $COR

Quartz Partners LLC purchased a new position in Cencora, Inc. (NYSE:COR) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 15,650 shares of the company’s stock, valued at approximately $4,429,000. Cencora comprises approximately 1.5% of Quartz Partners LLC’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Cencora during the 2nd quarter worth $66,000. United Bank purchased a new position in Cencora in the second quarter valued at about $2,277,000. Shepherd Financial Partners LLC purchased a new position in Cencora in the second quarter valued at about $1,576,000. Johnson Financial Group Inc. bought a new position in Cencora in the second quarter worth about $177,000. Finally, West Family Investments Inc. bought a new position in Cencora in the second quarter worth about $794,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Royal Bank Of Canada started coverage on shares of Cencora in a report on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Evercore restated an “outperform” rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Finally, UBS Group lifted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

Shares of NYSE COR opened at $316.78 on Thursday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a market cap of $60.45 billion, a PE ratio of 23.53, a P/E/G ratio of 1.81 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The business has a 50-day simple moving average of $301.20 and a two-hundred day simple moving average of $312.16.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.00 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

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

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

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of 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 is accessible through this link. Insiders own 0.38% of the company’s stock.

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.