HealthInvest Partners AB Has $8.23 Million Stake in Cencora, Inc. (NYSE:COR)

HealthInvest Partners AB lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 20.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,544 shares of the company’s stock after buying an additional 6,224 shares during the quarter. Cencora accounts for 3.9% of HealthInvest Partners AB’s portfolio, making the stock its 9th biggest position. HealthInvest Partners AB’s holdings in Cencora were worth $8,225,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Kingswood Wealth Advisors LLC bought a new stake in shares of Cencora during the second quarter valued at about $655,000. Czech National Bank lifted its position in Cencora by 8.3% in the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after buying an additional 2,414 shares during the last quarter. Natixis purchased a new stake in shares of Cencora in the 1st quarter valued at $5,842,000. Gabelli Funds LLC purchased a new position in shares of Cencora in the first quarter worth about $14,093,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Cencora in the first quarter worth $9,962,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Performance

COR stock traded down $1.56 on Thursday, hitting $241.64. The company had a trading volume of 23,272 shares, compared to its average volume of 1,397,800. The stock has a market cap of $47.62 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 1.60 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock’s 50-day simple moving average is $232.96 and its 200 day simple moving average is $231.37. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.91%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

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.