E Fund Management Co. Ltd. Buys New Shares in Cencora, Inc. $COR

E Fund Management Co. Ltd. bought a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,756 shares of the company’s stock, valued at approximately $497,000.

Other large investors have also bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Cencora during the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new position in Cencora during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in Cencora during the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC boosted its holdings in Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Finally, Archer Investment Corp boosted its holdings in Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 47 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. Morgan Stanley boosted their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. William Blair assumed coverage on Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

COR stock opened at $315.15 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The business has a 50-day simple moving average of $301.86 and a two-hundred day simple moving average of $311.85. The company has a market capitalization of $60.14 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for 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 last year, the company earned $4.00 earnings per share. Research analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its board has authorized a share repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Cencora Announces Dividend

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 paid a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

About Cencora

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.