Contravisory Investment Management Inc. Sells 82 Shares of Cencora, Inc. (NYSE:COR)

Contravisory Investment Management Inc. decreased its stake in Cencora, Inc. (NYSE:COR) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,363 shares of the company’s stock after selling 82 shares during the period. Contravisory Investment Management Inc.’s holdings in Cencora were worth $1,205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the last quarter. Bank of Montreal Can raised its position in Cencora by 136.8% in the second quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock valued at $153,623,000 after purchasing an additional 370,841 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after purchasing an additional 308,773 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Cencora by 21.7% during the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after purchasing an additional 292,600 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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 of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,696 shares of company stock worth $22,862,734. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on COR shares. UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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 note on Wednesday, September 18th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company decreased their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Price Performance

Shares of NYSE COR opened at $237.74 on Thursday. The stock has a fifty day moving average of $237.79 and a 200-day moving average of $233.67. The stock has a market cap of $45.95 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

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.