Great Lakes Advisors LLC Makes New Investment in Cencora, Inc. $COR

Great Lakes Advisors LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 18,026 shares of the company’s stock, valued at approximately $5,102,000.

Other hedge funds have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new stake in shares of Cencora in the fourth quarter worth approximately $16,487,000. Impact Partnership Wealth LLC acquired a new position in Cencora during the first quarter worth approximately $1,170,000. SEB Asset Management AB purchased a new position in Cencora during the first quarter worth approximately $134,139,000. PFA Pension Forsikringsaktieselskab purchased a new position in Cencora during the fourth quarter worth approximately $59,145,000. Finally, Robeco Schweiz AG acquired a new position in shares of Cencora in the 4th quarter valued at $7,329,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Cencora Trading Up 0.2%

Shares of COR opened at $316.78 on Thursday. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The stock’s 50-day moving average is $301.20 and its two-hundred day moving average is $312.16. 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 stock 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.

Cencora (NYSE:COR) last posted its 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 analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.00 earnings per share. Equities analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora declared that its Board of Directors has approved a share repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy 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.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COR shares. UBS Group boosted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Robert W. Baird set a $370.00 target price on Cencora in a report on Thursday, August 6th. Royal Bank Of Canada began coverage on Cencora in a research report on Wednesday. They set a “sector perform” rating and a $330.00 price target for the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company raised their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $370.85.

About Cencora

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.