Integrated Investment Consultants LLC Invests $4.22 Million in Cencora, Inc. (NYSE:COR)

21 Nov 2024, 16:15 by Tristan Rich · The Markets Daily

Integrated Investment Consultants LLC bought a new stake in Cencora, Inc. (NYSE:COR – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,731 shares of the company’s stock, valued at approximately $4,216,000.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the first quarter worth about $2,183,619,000. Boston Partners bought a new position in shares of Cencora during the 1st quarter valued at approximately $1,001,269,000. Capital Research Global Investors purchased a new stake in Cencora during the 1st quarter valued at $650,424,000. Legal & General Group Plc lifted its position in Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after buying an additional 67,287 shares during the last quarter. Finally, Swedbank AB increased its position in Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after acquiring an additional 31,104 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.9 %

NYSE:COR opened at $243.20 on Thursday. The company’s 50-day simple moving average is $232.82 and its 200-day simple moving average is $231.29. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $251.56. The stock has a market capitalization of $47.92 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. Cencora’s dividend payout ratio is presently 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Leerink Partners cut 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. Evercore ISI upped their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Read Our Latest Stock Analysis on COR

About Cencora

(Free Report)

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.