Avidity Partners Management LP Sells 9,600 Shares of Cencora, Inc. $COR

Avidity Partners Management LP reduced its position in Cencora, Inc. (NYSE:COR) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the company’s stock after selling 9,600 shares during the quarter. Cencora makes up about 0.9% of Avidity Partners Management LP’s investment portfolio, making the stock its 24th largest holding. Avidity Partners Management LP’s holdings in Cencora were worth $3,175,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. bought a new position in shares of Cencora in the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora in the fourth quarter worth approximately $27,000. Archer Investment Corp lifted its holdings in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares in the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Cencora in the third quarter worth $30,000. Finally, Caitlin John LLC purchased a new position in shares of Cencora in the third quarter worth $31,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 0.0%

Shares of COR opened at $281.56 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a market cap of $54.78 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.52 and a beta of 0.59. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. The company’s fifty day simple moving average is $289.22 and its 200-day simple moving average is $327.63.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 6th. The company reported $4.75 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.07). The firm had revenue of $78.36 billion during the quarter, compared to analysts’ expectations of $81.09 billion. Cencora had a net margin of 0.78% and a return on equity of 135.20%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.42 EPS. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. As a group, analysts expect that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.60 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. Cencora’s dividend payout ratio is presently 18.40%.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley set a $342.00 target price on shares of Cencora in a report on Friday, May 8th. Leerink Partners reiterated an “outperform” rating on shares of Cencora in a research report on Tuesday, March 17th. Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group increased their price objective on shares of Cencora from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $374.00.

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.