Intech Investment Management LLC Purchases 8,091 Shares of Cencora, Inc. (NYSE:COR)

Intech Investment Management LLC boosted its position in Cencora, Inc. (NYSE:COR) by 12.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,012 shares of the company’s stock after acquiring an additional 8,091 shares during the quarter. Intech Investment Management LLC’s holdings in Cencora were worth $16,434,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COR. Kingswood Wealth Advisors LLC bought a new position in shares of Cencora in the 2nd quarter valued at $655,000. Czech National Bank raised its stake in Cencora by 8.3% during the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares in the last quarter. Natixis bought a new position in shares of Cencora in the first quarter worth about $5,842,000. Gabelli Funds LLC acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $14,093,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Cencora during the 1st quarter valued at approximately $9,962,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

COR stock opened at $243.20 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The company’s fifty day simple moving average is $232.82 and its 200 day simple moving average is $231.29. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56. The firm has a market cap of $47.92 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio is presently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COR shares. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

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.