Rhenman & Partners Asset Management AB Boosts Position in Cencora, Inc. (NYSE:COR)

Rhenman & Partners Asset Management AB raised its position in Cencora, Inc. (NYSE:COR) by 19.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 53,750 shares of the company’s stock after purchasing an additional 8,600 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Cencora were worth $12,077,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JFS Wealth Advisors LLC raised its position in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cencora during the 4th quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Kentucky Trust Co purchased a new stake in shares of Cencora in the fourth quarter valued at $33,000. Finally, WASHINGTON TRUST Co increased its position in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $279.29 on Friday. The firm has a 50-day moving average of $257.28 and a two-hundred day moving average of $242.65. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a market cap of $54.16 billion, a P/E ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $296.65.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.79%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Analyst Upgrades and Downgrades

COR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI lifted their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock valued at $8,034,778 over the last 90 days. 10.80% of the stock is owned by company insiders.

Cencora Company 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.