Modus Advisors LLC Invests $54,000 in Cencora, Inc. (NYSE:COR)

Modus Advisors LLC purchased a new stake in Cencora, Inc. (NYSE:COR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 241 shares of the company’s stock, valued at approximately $54,000.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp lifted its position in shares of Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after acquiring an additional 291,867 shares during the period. Wellington Management Group LLP lifted its position in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares during the period. Geode Capital Management LLC increased its holdings in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after buying an additional 189,054 shares during the period. Pacer Advisors Inc. increased its holdings in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after acquiring an additional 67,287 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s 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 sale, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,696 shares of company stock worth $22,862,734 over the last ninety days. 15.80% of the stock is owned by insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $229.20 on Friday. The stock has a market cap of $44.30 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.54 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a twelve month low of $207.63 and a twelve month high of $253.27. The company’s fifty day moving average is $237.44 and its 200 day moving average is $233.63.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.96%. Cencora’s dividend payout ratio is presently 29.29%.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. 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. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI lifted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

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.