Nordea Investment Management AB Purchases 308,773 Shares of Cencora, Inc. (NYSE:COR)

Nordea Investment Management AB increased its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent filing 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 quarter. Nordea Investment Management AB owned approximately 0.56% of Cencora worth $243,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COR. Lake Street Advisors Group LLC grew its holdings in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company's stock worth $769,000 after purchasing an additional 43 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company's stock worth $1,001,000 after purchasing an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company's stock valued at $848,000 after buying an additional 46 shares during the period. J.W. Cole Advisors Inc. increased its position in Cencora by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company's stock valued at $826,000 after buying an additional 48 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company's stock worth $460,000 after buying an additional 51 shares during the period. Institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the company's 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 transaction, the chairman now owns 306,752 shares of the company's stock, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the 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 completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,696 shares of company stock worth $22,862,734 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Mizuho began coverage on shares of Cencora in a report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price objective on the stock. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Finally, Wells Fargo & Company decreased their target price 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. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $275.60.

Cencora Stock Performance

Shares of NYSE COR traded up $4.90 during mid-day trading on Tuesday, reaching $233.78. 1,734,836 shares of the company's stock were exchanged, compared to its average volume of 1,298,009. The firm has a 50-day moving average price of $237.38 and a two-hundred day moving average price of $233.51. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a market capitalization of $45.18 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 52 week low of $208.58 and a 52 week high of $253.27.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.94%. Cencora's dividend payout ratio is presently 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.