Intech Investment Management LLC Decreases Stock Position in Cencora, Inc. (NYSE:COR)

Intech Investment Management LLC cut its position in Cencora, Inc. (NYSE:COR) by 33.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,627 shares of the company’s stock after selling 24,385 shares during the quarter. Intech Investment Management LLC’s holdings in Cencora were worth $10,926,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COR. Pacer Advisors Inc. boosted its stake in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Cencora in the fourth quarter valued at $322,460,000. Wellington Management Group LLP raised its holdings in Cencora by 7.0% in 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 acquiring an additional 338,452 shares in the last quarter. Amundi raised 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 acquiring an additional 314,846 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings 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 acquiring an additional 308,773 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at $5,241,249.24. This represents a 9.03 % 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 worth $3,382,462. Insiders own 10.80% of the company’s stock.

Cencora Stock Up 1.1 %

Cencora stock opened at $260.98 on Tuesday. The company has a 50-day simple moving average of $248.23 and a 200-day simple moving average of $239.31. The firm has a market capitalization of $50.61 billion, a P/E ratio of 37.12, a P/E/G 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. Cencora, Inc. has a one year low of $214.77 and a one year high of $263.70.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate 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, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 dividend yield of 0.84%. Cencora’s dividend payout ratio is currently 31.29%.

Wall Street Analysts Forecast Growth

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

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.