Neo Ivy Capital Management Makes New $3.92 Million Investment in Cencora, Inc. (NYSE:COR)

Neo Ivy Capital Management bought a new position in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,398 shares of the company’s stock, valued at approximately $3,916,000. Cencora comprises approximately 1.3% of Neo Ivy Capital Management’s holdings, making the stock its 7th largest holding.

Several other large investors have also bought and sold shares of COR. Coldstream Capital Management Inc. raised its holdings in shares of Cencora by 11.0% during the third quarter. Coldstream Capital Management Inc. now owns 3,299 shares of the company’s stock valued at $750,000 after purchasing an additional 328 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after purchasing an additional 189,054 shares during the last quarter. Vestcor Inc raised its holdings in shares of Cencora by 13.1% during the third quarter. Vestcor Inc now owns 3,438 shares of the company’s stock valued at $774,000 after purchasing an additional 398 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Cencora by 8.2% during the third quarter. Continuum Advisory LLC now owns 1,084 shares of the company’s stock valued at $264,000 after purchasing an additional 82 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC raised its holdings in shares of Cencora by 1.7% during the third quarter. Drucker Wealth 3.0 LLC now owns 5,355 shares of the company’s stock valued at $1,205,000 after purchasing an additional 87 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

COR opened at $236.94 on Wednesday. The firm has a market cap of $45.80 billion, a P/E ratio of 31.55, a PEG ratio of 1.62 and a beta of 0.45. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $253.27. The company has a 50 day simple moving average of $237.68 and a two-hundred day simple moving average of $233.85. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America restated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Leerink Partners cut their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $276.80.

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.