AXQ Capital LP Buys New Shares in Cencora, Inc. $COR

AXQ Capital LP purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 3rd quarter, HoldingsChannel reports. The firm purchased 2,721 shares of the company’s stock, valued at approximately $850,000.

A number of other hedge funds also recently bought and sold shares of the stock. United Bank increased its stake in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Cencora in the second quarter worth approximately $216,000. MQS Management LLC acquired a new position in Cencora during the 2nd quarter worth approximately $280,000. Brighton Jones LLC purchased a new stake in shares of Cencora in the 2nd quarter valued at approximately $264,000. Finally, Whipplewood Advisors LLC raised its holdings in shares of Cencora by 11.8% in the 2nd quarter. Whipplewood Advisors LLC now owns 608 shares of the company’s stock valued at $182,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COR shares. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Wall Street Zen cut Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Evercore cut their target price on Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $399.00.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 1,677 shares of Cencora stock in a transaction on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the transaction, the executive vice president directly owned 18,796 shares in the company, valued at $6,484,620. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,220 shares of company stock valued at $5,282,867. 0.38% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $365.97 on Tuesday. The firm’s fifty day simple moving average is $349.72 and its 200-day simple moving average is $332.01. Cencora, Inc. has a 12 month low of $241.48 and a 12 month high of $377.54. The stock has a market capitalization of $71.19 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 1.68 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same period last year, the firm posted $3.73 EPS. Cencora’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Cencora’s dividend payout ratio (DPR) is presently 28.85%.

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.