Mediolanum International Funds Ltd Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Mediolanum International Funds Ltd increased its stake in Cencora, Inc. (NYSE:COR) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,340 shares of the company’s stock after purchasing an additional 1,303 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cencora were worth $15,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lake Street Advisors Group LLC lifted its holdings in shares of Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after buying an additional 43 shares in the last quarter. Harbour Trust & Investment Management Co increased its holdings in Cencora by 9.2% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 9,478 shares of the company’s stock worth $2,133,000 after acquiring an additional 800 shares during the period. Nicholson Wealth Management Group LLC purchased a new stake in Cencora in the 3rd quarter worth approximately $1,678,000. Assenagon Asset Management S.A. boosted its holdings in Cencora by 462.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 132,364 shares of the company’s stock valued at $29,792,000 after purchasing an additional 108,838 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of Cencora by 9.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 37,872 shares of the company’s stock valued at $8,524,000 after purchasing an additional 3,211 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COR. 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 research report on Thursday, August 1st. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI decreased their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $259.44.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,461,153 shares of company stock worth $1,073,075,720. 15.80% of the stock is currently owned by insiders.

Cencora Trading Down 0.4 %

Shares of COR traded down $0.83 during mid-day trading on Friday, reaching $234.33. The company’s stock had a trading volume of 174,323 shares, compared to its average volume of 1,406,914. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. The stock has a market cap of $46.74 billion, a PE ratio of 25.73, a P/E/G ratio of 1.40 and a beta of 0.44. The company’s fifty day moving average price is $232.22 and its two-hundred day moving average price is $230.91. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm posted $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.