Assenagon Asset Management S.A. Boosts Holdings in Cencora, Inc. (NYSE:COR)

Assenagon Asset Management S.A. boosted its position in Cencora, Inc. (NYSE:COR - Free Report) by 1,275.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 272,832 shares of the company's stock after acquiring an additional 252,992 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Cencora worth $75,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Hickory Asset Management Inc. bought a new stake in shares of Cencora in the fourth quarter worth about $572,000. Vontobel Holding Ltd. lifted its holdings in shares of Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock valued at $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Portfolio Design Labs LLC lifted its holdings in shares of Cencora by 76.9% during the fourth quarter. Portfolio Design Labs LLC now owns 11,032 shares of the company's stock valued at $2,479,000 after purchasing an additional 4,794 shares during the last quarter. Certuity LLC purchased a new position in shares of Cencora during the fourth quarter valued at approximately $295,000. Finally, Westpac Banking Corp lifted its holdings in shares of Cencora by 13.5% during the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock valued at $4,919,000 after purchasing an additional 2,596 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business's stock in a transaction dated Monday, March 24th. The shares were 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 owns 14,665 shares in the company, valued at $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,253 shares of company stock worth $10,582,297. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. UBS Group boosted their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $306.91.

Cencora Stock Performance

Shares of COR stock traded up $0.08 during mid-day trading on Friday, reaching $295.12. 966,888 shares of the company's stock traded hands, compared to its average volume of 1,528,880. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a 50 day moving average price of $287.24 and a two-hundred day moving average price of $261.82. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market capitalization of $57.20 billion, a PE ratio of 41.98, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.80 EPS. On average, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is presently 25.52%.

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.