E Fund Management Co. Ltd. Invests $497,000 in Cencora, Inc. $COR

E Fund Management Co. Ltd. purchased a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,756 shares of the company’s stock, valued at approximately $497,000.

Several other hedge funds also recently modified their holdings of the company. ExodusPoint Capital Management LP bought a new position in Cencora in the 4th quarter valued at approximately $16,487,000. Impact Partnership Wealth LLC bought a new stake in Cencora during the 1st quarter worth approximately $1,170,000. SEB Asset Management AB bought a new stake in Cencora during the 1st quarter worth approximately $134,139,000. PFA Pension Forsikringsaktieselskab acquired a new position in Cencora in the 4th quarter valued at approximately $59,145,000. Finally, Wedge Capital Management L L P NC increased its position in Cencora by 31.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after acquiring an additional 24,968 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COR shares. Evercore reaffirmed an “outperform” rating and set a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Morgan Stanley increased their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Bank of America upped their price target on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Trading Down 0.6%

NYSE:COR opened at $315.15 on Friday. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. 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 firm’s fifty day moving average is $301.86 and its 200-day moving average is $311.85. The firm has a market cap of $60.14 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.82 and a beta of 0.57.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during 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%. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.00 earnings per share. Equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders 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 dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora announced that its Board of Directors has authorized a share buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

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.