Sumitomo Life Insurance Co. Buys New Shares in Cencora, Inc. $COR

Sumitomo Life Insurance Co. bought a new position in shares of Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,831 shares of the company’s stock, valued at approximately $518,000.

Several other hedge funds have also recently added to or reduced their stakes in COR. United Bank increased its holdings in shares of Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after buying an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at $595,000. Treasurer of the State of North Carolina boosted its stake in shares of Cencora by 7.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after acquiring an additional 6,244 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Cencora by 94.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after acquiring an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Cencora by 26.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after acquiring an additional 15,154 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE:COR opened at $317.89 on Friday. The company’s fifty day moving average is $302.59 and its two-hundred day moving average is $311.89. 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 12-month low of $244.82 and a 12-month high of $377.54. The company has a market cap of $60.66 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last released 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 company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.00 earnings per share. Equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Cencora announced that its board has initiated a share repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COR. Bank of America boosted their target price on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Barclays decreased their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Royal Bank Of Canada began coverage on Cencora in a research note on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Finally, Evercore reaffirmed an “outperform” rating and set a $350.00 price objective 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. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Insider Transactions at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.