Bridges Investment Management Inc. Takes Position in Cencora, Inc. (NYSE:COR)

Bridges Investment Management Inc. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,412 shares of the company’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Cencora during the first quarter valued at about $25,000. Legacy Bridge LLC bought a new position in Cencora in the first quarter worth about $27,000. New Millennium Group LLC bought a new position in Cencora in the second quarter worth about $26,000. TCTC Holdings LLC bought a new position in Cencora in the first quarter worth about $29,000. Finally, TFO Wealth Partners LLC bought a new position in Cencora in the first quarter worth about $30,000. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research reports. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Robert W. Baird decreased their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $256.67.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. 15.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.7 %

NYSE:COR opened at $228.11 on Monday. The company’s 50 day moving average price is $234.84 and its 200-day moving average price is $233.10. Cencora, Inc. has a 52 week low of $178.21 and a 52 week high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The stock has a market cap of $45.50 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter in the prior year, the company posted $2.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 22.32%.

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.