Modus Advisors LLC Invests $54,000 in Cencora, Inc. (NYSE:COR)

Modus Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 241 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after purchasing an additional 3,610 shares during the period. Mackenzie Financial Corp raised its holdings in Cencora by 9.9% during the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after buying an additional 7,266 shares during the period. Portfolio Design Labs LLC bought a new position in Cencora in the third quarter valued at approximately $1,404,000. Envestnet Asset Management Inc. boosted its holdings in shares of Cencora by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 560,450 shares of the company’s stock valued at $126,269,000 after buying an additional 22,735 shares during the period. Finally, Unigestion Holding SA increased its position in shares of Cencora by 31.9% during the third quarter. Unigestion Holding SA now owns 149,989 shares of the company’s stock worth $33,749,000 after acquiring an additional 36,275 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,696 shares of company stock valued at $22,862,734 over the last three months. Insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company dropped their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Stock Up 2.0 %

Cencora stock opened at $229.20 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company’s 50-day moving average is $237.44 and its 200-day moving average is $233.63. The firm has a market capitalization of $44.30 billion, a PE ratio of 30.52, a P/E/G ratio of 1.54 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $207.63 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.96%. Cencora’s dividend payout ratio is currently 29.29%.

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.