TimesSquare Capital Management LLC Purchases Shares of 418,087 Cencora, Inc. $COR

TimesSquare Capital Management LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 418,087 shares of the company’s stock, valued at approximately $118,310,000. Cencora comprises about 1.7% of TimesSquare Capital Management LLC’s portfolio, making the stock its 11th largest position.

A number of other hedge funds also recently modified their holdings of COR. Kemnay Advisory Services Inc. acquired a new stake in Cencora in the fourth quarter valued at $25,000. Oakworth Capital Inc. bought a new position in Cencora during the 4th quarter worth $26,000. Elyxium Wealth LLC bought a new position in Cencora during the 4th quarter worth $27,000. Elevation Wealth Partners LLC lifted its holdings in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the period. Finally, Archer Investment Corp lifted its holdings in Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 0.4%

Cencora stock opened at $312.51 on Tuesday. 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 firm’s fifty day moving average is $299.75 and its 200 day moving average is $312.64. The company has a market capitalization of $59.64 billion, a PE ratio of 23.22, a PEG ratio of 1.80 and a beta of 0.57.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same period in the prior year, the firm earned $4.00 earnings per share. Cencora’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

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

Cencora Dividend Announcement

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 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 yield of 0.8%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COR shares. JPMorgan Chase & Co. increased their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. UBS Group lifted their price objective on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, William Blair assumed coverage on shares of Cencora in a research report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

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.