Manning & Napier Advisors LLC Buys New Position in Cencora, Inc. $COR

Manning & Napier Advisors LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, HoldingsChannel.com reports. The fund bought 81,156 shares of the company’s stock, valued at approximately $25,494,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. T. Rowe Price Investment Management Inc. raised its position in shares of Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after buying an additional 4,123,795 shares during the last quarter. Norges Bank acquired a new stake in Cencora during the fourth quarter worth approximately $822,506,000. Marshall Wace LLP boosted its position in Cencora by 518.9% during the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after acquiring an additional 1,672,762 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cencora by 528.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company’s stock worth $461,250,000 after acquiring an additional 1,241,186 shares during the period. Finally, Viking Global Investors LP grew its stake in Cencora by 95.0% in the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock worth $624,207,000 after acquiring an additional 1,013,913 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on Cencora from $429.00 to $331.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Citigroup lowered their price objective on Cencora from $405.00 to $355.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Morgan Stanley set a $342.00 target price on Cencora in a research note on Friday, May 8th. Leerink Partners reiterated an “outperform” rating on shares of Cencora in a research report on Tuesday, March 17th. Finally, William Blair began coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average target price of $367.75.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.3%

COR stock traded up $0.85 on Friday, hitting $303.31. 761,459 shares of the company were exchanged, compared to its average volume of 1,586,448. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59. The stock has a market capitalization of $59.01 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The business’s fifty day moving average is $277.22 and its two-hundred day moving average is $318.98.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors 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 yield of 0.8%. Cencora’s dividend payout ratio (DPR) is presently 18.40%.

Cencora declared that its board has authorized a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.