Cencora, Inc. (NYSE:COR) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its position in Cencora, Inc. (NYSE:COR) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,908 shares of the company’s stock after purchasing an additional 269 shares during the quarter. Bridges Investment Management Inc.’s holdings in Cencora were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in COR. Hickory Asset Management Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $572,000. Sylvest Advisors LLC purchased a new stake in Cencora in the 4th quarter valued at $1,105,000. Insight Wealth Strategies LLC boosted its stake in Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after purchasing an additional 11,232 shares during the period. Cerity Partners LLC boosted its stake in Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after purchasing an additional 3,610 shares during the period. Finally, Vontobel Holding Ltd. grew its position in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.7 %

Cencora stock opened at $255.22 on Tuesday. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market capitalization of $49.49 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The stock’s fifty day moving average is $242.26 and its two-hundred day moving average is $237.98.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Cencora’s dividend payout ratio is currently 31.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction 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. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Robert W. Baird increased their price objective 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 lifted their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

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.