Paralel Advisors LLC Increases Stake in Cencora, Inc. (NYSE:COR)

Paralel Advisors LLC raised its position in Cencora, Inc. (NYSE:COR) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,330 shares of the company’s stock after acquiring an additional 936 shares during the quarter. Paralel Advisors LLC’s holdings in Cencora were worth $2,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Boston Partners raised its position in Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock worth $1,128,058,000 after acquiring an additional 125,611 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock valued at $969,471,000 after acquiring an additional 130,213 shares during the last quarter. Invesco Ltd. raised its position in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after purchasing an additional 550,246 shares during the period. Pacer Advisors Inc. grew its stake in Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after purchasing an additional 138,868 shares in the last quarter. Finally, Norges Bank bought a new stake in Cencora in the 4th quarter valued at $478,309,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,675 shares of company stock worth $8,034,778. Company insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of NYSE:COR traded up $4.82 during trading on Thursday, reaching $278.71. The stock had a trading volume of 49,226 shares, compared to its average volume of 1,492,265. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65. The stock has a fifty day simple moving average of $259.12 and a two-hundred day simple moving average of $244.21. The firm has a market capitalization of $54.05 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Wall Street Analyst Weigh In

COR has been the topic of a number of analyst reports. Evercore ISI upped their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average target price of $280.20.

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.