Sagespring Wealth Partners LLC Makes New $374,000 Investment in Cencora, Inc. (NYSE:COR)

Sagespring Wealth Partners LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,666 shares of the company's stock, valued at approximately $374,000.

Several other hedge funds also recently modified their holdings of COR. Norges Bank acquired a new stake in shares of Cencora during the fourth quarter worth $478,309,000. Raymond James Financial Inc. acquired a new stake in shares of Cencora in the fourth quarter worth $322,460,000. Invesco Ltd. lifted its stake in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after purchasing an additional 550,246 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cencora by 140.6% during the 4th quarter. Renaissance Technologies LLC now owns 550,700 shares of the company's stock worth $123,731,000 after acquiring an additional 321,800 shares in the last quarter. Finally, Amundi boosted its stake in shares of Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company's stock valued at $318,385,000 after purchasing an additional 314,846 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE:COR traded down $3.62 during mid-day trading on Monday, reaching $283.12. 151,370 shares of the stock were exchanged, compared to its average volume of 1,504,256. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $296.65. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The business has a fifty day moving average price of $264.00 and a 200 day moving average price of $247.33. The firm has a market capitalization of $54.90 billion, a PE ratio of 40.45, a PEG ratio of 1.31 and a beta of 0.55.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. Cencora's dividend payout ratio (DPR) is 31.29%.

Insider Buying and Selling

In other news, 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 transaction, the executive vice president now directly owns 15,374 shares of the company's stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now directly owns 14,665 shares of the company's stock, valued at $3,934,326.20. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COR. StockNews.com upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price target on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Bank of America raised their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average target price of $284.55.

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.