Assenagon Asset Management S.A. Cuts Stake in Cencora, Inc. (NYSE:COR)

Assenagon Asset Management S.A. lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 85.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,840 shares of the company’s stock after selling 112,524 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cencora were worth $4,458,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Insight Wealth Strategies LLC grew its position in shares of Cencora by 124.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after purchasing an additional 11,232 shares in the last quarter. Cerity Partners LLC boosted its stake in Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after buying an additional 3,610 shares during the last quarter. Portfolio Design Labs LLC bought a new position in Cencora during the third quarter valued at approximately $1,404,000. Mackenzie Financial Corp boosted its stake in Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after buying an additional 7,266 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after buying an additional 308,773 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora 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 owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,187 shares of company stock worth $17,790,912 in the last ninety days. 15.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on COR shares. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Finally, Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Trading Up 0.5 %

COR opened at $242.11 on Tuesday. The stock’s fifty day moving average is $237.38 and its two-hundred day moving average is $234.15. The company has a market capitalization of $46.80 billion, a P/E ratio of 32.24, a PEG ratio of 1.48 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $253.27. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Cencora Company 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.