Vinva Investment Management Ltd Grows Stake in Cencora, Inc. (NYSE:COR)

Vinva Investment Management Ltd grew its position in Cencora, Inc. (NYSE:COR) by 172.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,182 shares of the company’s stock after purchasing an additional 5,184 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cencora were worth $1,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Millennium Group LLC purchased a new position in Cencora in the second quarter worth $26,000. LRI Investments LLC purchased a new stake in shares of Cencora during the first quarter valued at $31,000. MFA Wealth Advisors LLC purchased a new stake in shares of Cencora during the second quarter valued at $30,000. Concord Wealth Partners purchased a new stake in shares of Cencora during the third quarter valued at $30,000. Finally, SYSTM Wealth Solutions LLC purchased a new stake in shares of Cencora during the second quarter valued at $36,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 93,018 shares of company stock worth $22,478,942 in the last 90 days. Insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America reissued a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI upped 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. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Cencora Trading Up 0.8 %

Shares of Cencora stock opened at $251.60 on Friday. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a 50-day simple moving average of $234.91 and a two-hundred day simple moving average of $232.46. The company has a market cap of $49.58 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

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.