Pictet Asset Management Holding SA Acquires 26,051 Shares of Cencora, Inc. (NYSE:COR)

Pictet Asset Management Holding SA raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 26.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,017 shares of the company’s stock after buying an additional 26,051 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Cencora worth $28,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC increased its stake in shares of Cencora by 2,538.1% in the fourth quarter. New Age Alpha Advisors LLC now owns 3,113 shares of the company’s stock worth $699,000 after buying an additional 2,995 shares during the period. Norges Bank bought a new stake in shares of Cencora in the fourth quarter worth about $478,309,000. Loomis Sayles & Co. L P bought a new position in Cencora during the 4th quarter valued at approximately $974,000. AssuredPartners Investment Advisors LLC purchased a new stake in Cencora in the 4th quarter worth approximately $621,000. Finally, NEOS Investment Management LLC raised its holdings in shares of Cencora by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,074 shares of the company’s stock valued at $1,365,000 after acquiring an additional 1,238 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COR shares. Wells Fargo & Company boosted their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI lifted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho initiated 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. JPMorgan Chase & Co. lifted their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Stock Up 1.1 %

Cencora stock opened at $278.17 on Tuesday. The stock has a market cap of $53.94 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock has a fifty day moving average of $254.53 and a 200 day moving average of $241.53. Cencora, Inc. has a one year low of $214.77 and a one year high of $280.70.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.79%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Buying and Selling at Cencora

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