Asset Dedication LLC Purchases 307 Shares of Cencora, Inc. (NYSE:COR)

Asset Dedication LLC increased its position in Cencora, Inc. (NYSE:COR) by 682.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 352 shares of the company’s stock after purchasing an additional 307 shares during the quarter. Asset Dedication LLC’s holdings in Cencora were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in COR. Pacer Advisors Inc. lifted its position in Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after purchasing an additional 308,773 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares during the last quarter. Finally, State Street Corp increased its position in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after buying an additional 291,867 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Wells Fargo & Company upped their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $278.40.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. Insiders own 15.80% of the company’s stock.

Cencora Trading Up 1.0 %

Cencora stock opened at $258.54 on Friday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $261.25. The company has a market cap of $49.97 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.54 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The business has a 50-day simple moving average of $238.56 and a two-hundred day simple moving average of $235.60.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.85%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. Cencora’s payout ratio is 29.29%.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.