Oppenheimer & Co. Inc. Increases Stake in Cencora, Inc. (NYSE:COR)

Oppenheimer & Co. Inc. raised its position in Cencora, Inc. (NYSE:COR) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,949 shares of the company’s stock after acquiring an additional 99 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cencora were worth $1,337,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COR. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the period. Nordea Investment Management AB lifted its stake in shares of 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 purchasing an additional 308,773 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Cencora by 21.7% in the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares during the period. Finally, State Street Corp lifted its stake in shares of Cencora by 3.8% in the third 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 during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,648 shares of company stock worth $2,862,342 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on COR. Wells Fargo & Company raised their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Evercore ISI raised their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Robert W. Baird raised their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Tuesday. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Performance

Shares of NYSE COR opened at $253.35 on Wednesday. The company has a market cap of $49.13 billion, a PE ratio of 36.04, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $262.26. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a 50-day simple moving average of $242.78 and a 200-day simple moving average of $238.09.

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

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

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.