OFI Invest Asset Management Invests $41,000 in Cencora, Inc. (NYSE:COR)

OFI Invest Asset Management bought a new position in Cencora, Inc. (NYSE:COR) during the 4th quarter, Holdings Channel reports. The firm bought 190 shares of the company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Cencora by 6,855.3% during the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Cencora during the 4th quarter worth $322,460,000. Wellington Management Group LLP lifted its holdings in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Amundi lifted its holdings in Cencora by 30.8% during the 4th quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after buying an additional 314,846 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on COR. StockNews.com downgraded Cencora from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Wells Fargo & Company increased their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Evercore ISI increased their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

Cencora Price Performance

COR opened at $261.65 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $262.56. The company has a fifty day simple moving average of $245.08 and a 200 day simple moving average of $238.54. The stock has a market cap of $50.74 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 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%. On average, research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is currently 31.29%.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,970 shares of the 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 transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This trade represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,648 shares of company stock worth $2,862,342 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

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.