5,477 Shares in Cencora, Inc. (NYSE:COR) Acquired by Algebris UK Ltd

Algebris UK Ltd bought a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,477 shares of the company’s stock, valued at approximately $1,188,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Pacer Advisors Inc. increased its stake in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after buying an additional 2,035,679 shares during the period. Raymond James Financial Inc. acquired a new position in Cencora during the 4th quarter worth approximately $322,460,000. Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 338,452 shares during the last quarter. Amundi increased its holdings in Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after buying an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

COR has been the subject of several recent analyst reports. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

Cencora Stock Performance

Shares of COR opened at $264.02 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The company has a 50-day moving average of $248.84 and a two-hundred day moving average of $239.49. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $281.45. The stock has a market cap of $51.20 billion, a P/E ratio of 37.56, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released 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 net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at $13,022,850. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,648 shares of company stock valued at $3,382,462. Insiders own 10.80% of the company’s stock.

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.