Adage Capital Partners GP L.L.C. Sells 12,500 Shares of Cencora, Inc. (NYSE:COR)

Adage Capital Partners GP L.L.C. lowered its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 183,161 shares of the company's stock after selling 12,500 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Cencora worth $41,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after purchasing an additional 78,066 shares during the last quarter. Boston Partners lifted its position in Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after purchasing an additional 125,611 shares during the period. Geode Capital Management LLC increased its position in Cencora by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after purchasing an additional 130,213 shares during the period. Invesco Ltd. raised its stake in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company's stock valued at $495,249,000 after buying an additional 138,868 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,223 shares of company stock valued at $13,580,967. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $288.00 price target on shares of Cencora in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $289.09.

Cencora Stock Performance

NYSE COR traded up $1.45 during trading on Wednesday, reaching $291.62. 265,723 shares of the company's stock were exchanged, compared to its average volume of 1,518,526. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $296.65. The stock has a market capitalization of $56.55 billion, a P/E ratio of 41.48, a PEG ratio of 1.31 and a beta of 0.55. The business has a 50 day moving average price of $269.87 and a 200-day moving average price of $250.27. 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 (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts' consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Sell-side analysts forecast 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. Shareholders of record on Friday, February 14th were paid 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 yield of 0.75%. Cencora's dividend payout ratio (DPR) is currently 31.29%.

Cencora Company 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.