Cencora, Inc. (NYSE:COR) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in Cencora, Inc. (NYSE:COR) by 40.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077,272 shares of the company’s stock after purchasing an additional 308,773 shares during the period. Nordea Investment Management AB owned approximately 0.56% of Cencora worth $243,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in COR. Concord Wealth Partners purchased a new stake in shares of Cencora in the 3rd quarter valued at approximately $30,000. SYSTM Wealth Solutions LLC acquired a new position in Cencora in the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new position in Cencora in the third quarter worth approximately $41,000. Fairscale Capital LLC acquired a new stake in Cencora during the second quarter worth $54,000. Finally, Modus Advisors LLC purchased a new stake in Cencora in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COR shares. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company lowered their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Evercore ISI boosted their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average price target of $275.60.

Insider Transactions at Cencora

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

Cencora Stock Down 0.2 %

Shares of NYSE COR opened at $228.69 on Tuesday. The stock has a market cap of $44.20 billion, a P/E ratio of 30.45, a PEG ratio of 1.54 and a beta of 0.49. The business’s fifty day simple moving average is $237.34 and its 200-day simple moving average is $233.53. Cencora, Inc. has a 12-month low of $208.58 and a 12-month high of $253.27. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

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