Brevan Howard Capital Management LP Boosts Stake in Cencora, Inc. (NYSE:COR)

Brevan Howard Capital Management LP lifted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 408.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,843 shares of the company's stock after buying an additional 23,170 shares during the period. Brevan Howard Capital Management LP's holdings in Cencora were worth $6,480,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COR. Captrust Financial Advisors grew its stake in shares of Cencora by 17.9% in the fourth quarter. Captrust Financial Advisors now owns 14,257 shares of the company's stock worth $3,203,000 after acquiring an additional 2,169 shares during the period. Cary Street Partners Financial LLC purchased a new stake in Cencora during the 4th quarter valued at $232,000. Castlekeep Investment Advisors LLC bought a new position in shares of Cencora during the 4th quarter valued at $399,508,000. Caxton Associates LP boosted its stake in shares of Cencora by 27.0% in the 4th quarter. Caxton Associates LP now owns 5,491 shares of the company's stock worth $1,234,000 after buying an additional 1,166 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Cencora by 8.8% in the fourth quarter. Brown Advisory Inc. now owns 96,503 shares of the company's stock worth $21,682,000 after acquiring an additional 7,818 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COR has been the topic of several research reports. Morgan Stanley set a $288.00 target price on Cencora in a research report on Tuesday, April 15th. Wells Fargo & Company raised their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Bank of America upped 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $290.00.

Insiders Place Their Bets

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of the 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 in the company, valued at approximately $3,934,326.20. This represents a 21.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now 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. Insiders have sold a total of 50,223 shares of company stock worth $13,580,967 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Cencora Price Performance

NYSE:COR opened at $292.17 on Monday. The business's 50-day simple moving average is $272.65 and its two-hundred day simple moving average is $251.64. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $296.65. The stock has a market cap of $56.66 billion, a PE ratio of 41.56, a P/E/G ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results 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%. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 0.75%. Cencora's dividend payout ratio is currently 31.29%.

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.

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.