Portfolio Design Labs LLC Invests $1.40 Million in Cencora, Inc. (NYSE:COR)

Portfolio Design Labs LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 6,238 shares of the company’s stock, valued at approximately $1,404,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new stake in Cencora during the 2nd quarter worth about $26,000. LRI Investments LLC purchased a new position in shares of Cencora in the first quarter worth approximately $31,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the second quarter valued at approximately $30,000. Concord Wealth Partners purchased a new stake in shares of Cencora in the 3rd quarter valued at approximately $30,000. Finally, SYSTM Wealth Solutions LLC acquired a new position in Cencora in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $240.97 on Wednesday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market cap of $47.48 billion, a PE ratio of 32.09, a PEG ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a twelve month low of $194.56 and a twelve month high of $251.56. The firm’s 50 day moving average price is $232.75 and its 200 day moving average price is $231.17.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is presently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. UBS Group raised their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus price target of $271.20.

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.