Varma Mutual Pension Insurance Co Acquires New Holdings in Cencora, Inc. $COR

Varma Mutual Pension Insurance Co bought a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 47,625 shares of the company’s stock, valued at approximately $13,477,000.

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

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction that occurred 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 completion of the acquisition, 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 legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Cencora Stock Down 0.0%

NYSE:COR opened at $317.89 on Monday. 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 company has a market cap of $60.66 billion, a PE ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The stock has a 50-day simple moving average of $302.59 and a 200 day simple moving average of $311.52.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s payout ratio is currently 17.83%.

Analyst Ratings Changes

COR has been the topic of a number of research analyst reports. Robert W. Baird set a $370.00 price target on Cencora in a research report on Thursday, August 6th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays lowered their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.