Wealthfront Advisers LLC Purchases Shares of 42,108 Cencora, Inc. $COR

Wealthfront Advisers LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, Holdings Channel reports. The fund purchased 42,108 shares of the company’s stock, valued at approximately $11,916,000.

A number of other large investors also recently modified their holdings of the business. Global Strategic Investment Solutions LLC bought a new position in shares of Cencora in the 2nd quarter valued at about $342,000. Foster & Motley Inc. bought a new stake in Cencora during the second quarter worth about $1,505,000. Navigoe LLC acquired a new position in Cencora during the second quarter valued at approximately $254,000. Meeder Advisory Services Inc. acquired a new position in Cencora during the second quarter valued at approximately $1,543,000. Finally, Pavion Blue Capital LLC bought a new position in Cencora in the second quarter valued at approximately $218,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COR shares. William Blair assumed coverage on Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating on the stock. Wells Fargo & Company raised their target price on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Evercore reiterated an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the business’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 acquisition, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade 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. Company insiders own 0.38% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $316.38 on Wednesday. The business’s 50 day moving average price is $300.49 and its two-hundred day moving average price is $312.40. The company has a market cap of $60.37 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR) last released 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. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the prior year, the company earned $4.00 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

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

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.