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

Bridges Investment Management Inc. increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 16.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor 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.

Several other large investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its position in Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC lifted its position in Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the period. Shepherd Financial Partners LLC raised its holdings in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after purchasing an additional 46 shares during the period. WASHINGTON TRUST Co raised its holdings in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the period. Finally, JFS Wealth Advisors LLC grew its stake in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 46 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of COR opened at $255.22 on Tuesday. The firm has a market cap of $49.49 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.31 and a beta of 0.49. The stock has a 50 day moving average of $242.26 and a 200-day moving average of $237.98. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping 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%. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced 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 payout ratio is 31.29%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COR. Wells Fargo & Company increased 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. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. UBS Group increased their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $277.90.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’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 owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.80% of the company’s stock.

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.