PDT Partners LLC Invests $1.06 Million in Cencora, Inc. $COR

PDT Partners LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,740 shares of the company’s stock, valued at approximately $1,058,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accent Capital Management LLC increased its stake in Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after buying an additional 30 shares during the period. CYBER HORNET ETFs LLC increased its position in shares of Cencora by 6.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after acquiring an additional 31 shares during the period. Steph & Co. increased its position in shares of Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after acquiring an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC raised its stake in Cencora by 1.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after acquiring an additional 37 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE COR opened at $327.94 on Thursday. The firm has a market capitalization of $62.58 billion, a P/E ratio of 24.36, a PEG ratio of 1.88 and a beta of 0.57. The stock has a 50-day simple moving average of $305.39 and a two-hundred day simple moving average of $311.07. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last issued its 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 for 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%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.00 earnings per share. On average, equities analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora announced that its board has initiated a stock repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Insider Buying and Selling

In other news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction that occurred 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 purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on COR shares. JPMorgan Chase & Co. boosted 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. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Royal Bank Of Canada began coverage on Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 target price for the company. Wells Fargo & Company increased their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $370.85.

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.