Assenagon Asset Management S.A. Increases Position in Cencora, Inc. (NYSE:COR)

Assenagon Asset Management S.A. boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 462.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,364 shares of the company’s stock after buying an additional 108,838 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Cencora worth $29,792,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. IFM Investors Pty Ltd raised its position in Cencora by 9.3% during the third quarter. IFM Investors Pty Ltd now owns 37,872 shares of the company’s stock valued at $8,524,000 after acquiring an additional 3,211 shares in the last quarter. American Institute for Advanced Investment Management LLP acquired a new position in shares of Cencora in the 3rd quarter valued at $2,870,000. Jackson Wealth Management LLC boosted its holdings in Cencora by 67.5% during the third quarter. Jackson Wealth Management LLC now owns 29,281 shares of the company’s stock worth $6,591,000 after buying an additional 11,802 shares in the last quarter. Impact Partnership Wealth LLC grew its position in Cencora by 2.6% during the third quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after buying an additional 51 shares during the period. Finally, Greystone Financial Group LLC increased its holdings in Cencora by 2.1% in the third quarter. Greystone Financial Group LLC now owns 3,159 shares of the company’s stock valued at $711,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COR. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Robert W. Baird reduced their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Finally, Evercore ISI lowered their price objective on Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.44.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,461,153 shares of company stock valued at $1,073,075,720. 15.80% of the stock is currently owned by company insiders.

Cencora Trading Down 0.3 %

Shares of NYSE COR opened at $234.47 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $46.77 billion, a PE ratio of 25.65, a PEG ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66. The stock has a fifty day simple moving average of $232.15 and a 200-day simple moving average of $230.87.

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

Cencora Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.87%. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.