Wright Investors Service Inc. Raises Holdings in Cencora, Inc. (NYSE:COR)

Wright Investors Service Inc. raised its position in shares of Cencora, Inc. (NYSE:COR) by 253.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,522 shares of the company’s stock after buying an additional 5,391 shares during the quarter. Wright Investors Service Inc.’s holdings in Cencora were worth $1,690,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Unique Wealth LLC raised its holdings in Cencora by 7.1% in the fourth quarter. Unique Wealth LLC now owns 1,385 shares of the company’s stock valued at $311,000 after buying an additional 92 shares during the period. Miracle Mile Advisors LLC purchased a new position in Cencora in the fourth quarter valued at about $273,000. Enterprise Bank & Trust Co acquired a new position in shares of Cencora during the fourth quarter worth about $239,000. Cooper Financial Group raised its holdings in shares of Cencora by 8.1% during the 4th quarter. Cooper Financial Group now owns 3,211 shares of the company’s stock valued at $721,000 after buying an additional 240 shares during the period. Finally, Wedmont Private Capital lifted its position in Cencora by 33.1% during the 4th quarter. Wedmont Private Capital now owns 2,453 shares of the company’s stock worth $579,000 after acquiring an additional 610 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Down 0.0 %

NYSE COR opened at $236.10 on Tuesday. The firm has a market capitalization of $45.63 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a one year low of $214.77 and a one year high of $253.27. The company has a 50-day simple moving average of $237.82 and a 200-day simple moving average of $233.54. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COR. UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Wells Fargo & Company lowered their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.60.

Insiders Place Their Bets

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, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,696 shares of company stock valued at $22,862,734 over the last three months. Company insiders own 15.80% 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.