Synergy Asset Management LLC Takes Position in Cencora, Inc. (NYSE:COR)

Synergy Asset Management LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 70,398 shares of the company’s stock, valued at approximately $15,821,000. Cencora accounts for approximately 1.2% of Synergy Asset Management LLC’s portfolio, making the stock its 19th largest position.

Several other large investors have also recently bought and sold shares of COR. State Street Corp increased its holdings in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares in the last quarter. Wellington Management Group LLP increased 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 buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after acquiring an additional 138,868 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after acquiring an additional 292,600 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COR. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho initiated 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. Finally, Leerink Partners dropped their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $278.40.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is currently owned by insiders.

Cencora Stock Up 0.5 %

Shares of NYSE COR opened at $256.45 on Thursday. The firm has a market cap of $49.57 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. 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, Inc. has a 1 year low of $214.77 and a 1 year high of $257.79. The firm’s 50 day moving average price is $238.30 and its 200 day moving average price is $235.44.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

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.