Renaissance Technologies LLC Raises Stock Position in Cencora, Inc. (NYSE:COR)

Renaissance Technologies LLC raised its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 140.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,700 shares of the company's stock after buying an additional 321,800 shares during the period. Renaissance Technologies LLC owned about 0.28% of Cencora worth $123,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Twin Capital Management Inc. lifted its holdings in Cencora by 18.0% during the 4th quarter. Twin Capital Management Inc. now owns 14,148 shares of the company's stock worth $3,179,000 after buying an additional 2,162 shares in the last quarter. Invesco Ltd. boosted its holdings in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares during the period. Bank of Montreal Can grew its stake in Cencora by 30.5% during the 4th quarter. Bank of Montreal Can now owns 296,033 shares of the company's stock worth $66,513,000 after purchasing an additional 69,142 shares in the last quarter. Cerity Partners LLC increased its holdings in Cencora by 1.1% during the 4th quarter. Cerity Partners LLC now owns 39,887 shares of the company's stock worth $8,965,000 after purchasing an additional 430 shares during the period. Finally, Federated Hermes Inc. raised its position in Cencora by 14.9% in the 4th quarter. Federated Hermes Inc. now owns 476,035 shares of the company's stock valued at $106,956,000 after purchasing an additional 61,819 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Transactions at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of Cencora 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 sale, the executive vice president now directly owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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 COR traded down $0.74 during midday trading on Monday, reaching $283.59. 282,085 shares of the stock were exchanged, compared to its average volume of 1,709,523. The business's 50-day moving average price is $260.27 and its 200 day moving average price is $245.16. The company has a market capitalization of $54.99 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 1.31 and a beta of 0.55. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 328.62% and a net margin of 0.46%. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. Cencora's payout ratio is 31.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Bank of America boosted their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday. Evercore ISI increased their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $284.20.

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.