Synergy Asset Management LLC Buys New Stake in Cencora, Inc. (NYSE:COR)

Synergy Asset Management LLC purchased a new stake in Cencora, Inc. (NYSE:COR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 70,398 shares of the company’s stock, valued at approximately $15,821,000. Cencora makes up about 1.2% of Synergy Asset Management LLC’s investment portfolio, making the stock its 19th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Concord Wealth Partners acquired a new stake in shares of Cencora in the third quarter valued at about $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Cencora in the third quarter valued at approximately $41,000. Modus Advisors LLC purchased a new stake in shares of Cencora during the fourth quarter valued at approximately $54,000. Finally, Carolina Wealth Advisors LLC lifted its position in shares of Cencora by 366.7% during the third quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after purchasing an additional 209 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COR shares. Leerink Partners dropped their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird boosted their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays raised their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $278.40.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction that occurred 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 owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,187 shares of company stock valued at $17,790,912 in the last 90 days. 15.80% of the stock is currently owned by insiders.

Cencora Stock Performance

COR opened at $256.45 on Thursday. 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 company has a market cap of $49.57 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The stock has a 50-day moving average of $238.30 and a 200-day moving average of $235.44. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $257.79.

Cencora Increases Dividend

The firm 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 represents a $2.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

About Cencora

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.