AlphaCentric Advisors LLC Takes Position in Cencora, Inc. (NYSE:COR)

AlphaCentric Advisors LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 982 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COR. State Street Corp increased its position in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP increased its position in shares of Cencora by 7.0% during the third 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. Geode Capital Management LLC raised its stake in Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after buying an additional 189,054 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after buying an additional 138,868 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COR. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Wells Fargo & Company raised their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of the 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 owns 20,329 shares in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock valued at $17,790,912 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Cencora Stock Down 0.6 %

Shares of Cencora stock opened at $243.03 on Monday. The company has a 50-day simple moving average of $238.70 and a two-hundred day simple moving average of $237.42. The stock has a market capitalization of $46.97 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.53 and a current ratio of 0.92.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, analysts anticipate that Cencora, Inc. will post 15.36 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio is currently 31.29%.

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.