Elevation Point Wealth Partners LLC Takes Position in Cencora, Inc. $COR

Elevation Point Wealth Partners LLC bought a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,296 shares of the company’s stock, valued at approximately $4,045,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after buying an additional 221,570 shares in the last quarter. BlackRock Inc. bought a new position in Cencora in the 2nd quarter worth $5,154,136,000. State Street Corp increased its stake in shares of Cencora by 1.3% in the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after purchasing an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Cencora by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after buying an additional 169,055 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on COR. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group boosted their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Bank of America upped 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. Finally, Robert W. Baird set a $370.00 price target on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Cencora Stock Performance

NYSE COR opened at $317.89 on Friday. The stock has a market cap of $60.66 billion, a P/E ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57. The company’s 50-day simple moving average is $302.59 and its 200 day simple moving average is $311.89. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. 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 (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.00 earnings per share. As a group, research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

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

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.