Bank of Nova Scotia Grows Position in Cencora, Inc. $COR

Bank of Nova Scotia grew its position in Cencora, Inc. (NYSE:COR) by 519.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,737 shares of the company’s stock after acquiring an additional 133,942 shares during the quarter. Bank of Nova Scotia owned 0.08% of Cencora worth $49,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC purchased a new position in shares of Cencora in the third quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its stake in Cencora by 69.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Cencora during the third quarter valued at $31,000. Caitlin John LLC bought a new position in Cencora during the third quarter valued at $31,000. Finally, Westside Investment Management Inc. grew its stake in shares of Cencora by 200.0% in the 3rd quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after buying an additional 70 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COR. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Bank of America reduced their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a research report on Thursday, January 22nd. Finally, Barclays raised their price objective on Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.00.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the sale, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This trade represents a 7.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the transaction, the executive vice president owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 15,220 shares of company stock valued at $5,282,867. Insiders own 0.38% of the company’s stock.

Cencora Price Performance

COR stock opened at $349.69 on Monday. Cencora, Inc. has a 12 month low of $252.49 and a 12 month high of $377.54. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. The company has a 50-day moving average price of $355.58 and a 200 day moving average price of $338.81. The stock has a market cap of $68.03 billion, a PE ratio of 42.03, a P/E/G ratio of 1.63 and a beta of 0.68.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.04. The company had revenue of $85.93 billion for the quarter, compared to analyst estimates of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.73 EPS. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.