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

Contravisory Investment Management Inc. decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Concord Wealth Partners bought a new stake in Cencora during the 3rd quarter valued at approximately $30,000. SYSTM Wealth Solutions LLC bought a new stake in shares of Cencora during the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new stake in Cencora in the third quarter worth $41,000. Fairscale Capital LLC bought a new position in Cencora in the second quarter worth $54,000. Finally, Modus Advisors LLC purchased a new position in Cencora during the fourth quarter valued at $54,000. 97.52% of the stock is owned by institutional investors.

Cencora Price Performance

NYSE COR opened at $237.74 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $253.27. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.54 and a beta of 0.49. The company’s 50 day moving average is $237.79 and its two-hundred day moving average is $233.67.

Cencora Increases Dividend

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

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent research reports. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Robert W. Baird boosted their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 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 report on Friday, December 13th. Evercore ISI lifted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,696 shares of company stock valued at $22,862,734. Corporate insiders own 15.80% of the company’s stock.

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.