Envestnet Portfolio Solutions Inc. Buys 1,021 Shares of Cencora, Inc. (NYSE:COR)

Envestnet Portfolio Solutions Inc. raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,245 shares of the company's stock after buying an additional 1,021 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cencora were worth $4,099,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hickory Asset Management Inc. bought a new position in Cencora in the fourth quarter valued at about $572,000. Sylvest Advisors LLC acquired a new position in Cencora during the 4th quarter valued at about $1,105,000. Insight Wealth Strategies LLC boosted its stake in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after purchasing an additional 11,232 shares during the last quarter. Cerity Partners LLC grew its position in shares of Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock worth $8,881,000 after buying an additional 3,610 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after buying an additional 1,995 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COR has been the topic of a number of recent research reports. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price objective on the stock. StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $280.20.

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Insider Activity at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares of the company's stock, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,970 shares of company stock valued at $2,998,670. 10.80% of the stock is owned by insiders.

Cencora Stock Down 0.3 %

Shares of COR traded down $0.93 on Friday, hitting $266.91. The company's stock had a trading volume of 6,526,576 shares, compared to its average volume of 1,376,560. The firm's fifty day moving average price is $250.62 and its 200-day moving average price is $240.06. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $271.08. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.82%. Cencora's payout ratio is presently 31.29%.

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.