NEOS Investment Management LLC Buys 4,060 Shares of Cencora, Inc. $COR

NEOS Investment Management LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 14.9% in the second quarter, Holdings Channel reports. The firm owned 31,358 shares of the company’s stock after buying an additional 4,060 shares during the quarter. NEOS Investment Management LLC’s holdings in Cencora were worth $8,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AXQ Capital LP boosted its holdings in Cencora by 342.9% during the second quarter. AXQ Capital LP now owns 14,444 shares of the company’s stock worth $4,087,000 after buying an additional 11,183 shares during the last quarter. KFG Wealth Management LLC increased its stake in shares of Cencora by 15.8% in the 2nd quarter. KFG Wealth Management LLC now owns 1,791 shares of the company’s stock valued at $507,000 after acquiring an additional 244 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Cencora in the 2nd quarter valued at about $170,000. Nykredit A S acquired a new stake in shares of Cencora in the 2nd quarter valued at approximately $22,144,000. Finally, B. Metzler seel. Sohn & Co. AG raised its position in shares of Cencora by 50.5% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 34,005 shares of the company’s stock valued at $9,623,000 after acquiring an additional 11,412 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Stock Performance

Shares of Cencora stock opened at $330.52 on Friday. The firm has a market cap of $63.07 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The stock’s 50-day moving average is $312.33 and its 200-day moving average is $309.88. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) 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 return on equity of 125.45% and a net margin of 0.79%.Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $4.00 earnings per share. Equities analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its Board of Directors has approved a share repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

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.