Wright Investors Service Inc. Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Wright Investors Service Inc. increased its position in shares of Cencora, Inc. (NYSE:COR) by 253.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,522 shares of the company’s stock after acquiring an additional 5,391 shares during the period. Wright Investors Service Inc.’s holdings in Cencora were worth $1,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COR. Pacer Advisors Inc. boosted its stake in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the period. Bank of Montreal Can lifted its holdings in Cencora by 136.8% during the 2nd quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock worth $153,623,000 after buying an additional 370,841 shares in the last quarter. Wellington Management Group LLP boosted its position in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the period. Nordea Investment Management AB grew its stake in shares of Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after acquiring an additional 308,773 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after acquiring an additional 292,600 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COR has been the subject of several analyst reports. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Leerink Partners reduced their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America reiterated a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is owned by corporate insiders.

Cencora Stock Down 0.0 %

COR opened at $236.10 on Tuesday. Cencora, Inc. has a one year low of $214.77 and a one year high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The business’s fifty day moving average is $237.82 and its two-hundred day moving average is $233.54. The company has a market cap of $45.63 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The business also recently disclosed 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 is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is currently 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.