Cencora, Inc. $COR Stock: TrinityBridge Ltd Boosts Stake

TrinityBridge Ltd increased its position in Cencora, Inc. (NYSE:COR) by 35.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 145,444 shares of the company’s stock after purchasing an additional 38,339 shares during the quarter. Cencora makes up 1.3% of TrinityBridge Ltd’s holdings, making the stock its 24th largest position. TrinityBridge Ltd’s holdings in Cencora were worth $43,692,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in Cencora in the 2nd quarter worth about $5,154,136,000. Bank of America Corp DE grew its position in shares of Cencora by 6.9% during the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock worth $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi grew its position in shares of Cencora by 43.5% during the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after purchasing an additional 676,066 shares in the last quarter. Carmignac Gestion increased its holdings in shares of Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after purchasing an additional 646,112 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cencora by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,549,047 shares of the company’s stock worth $486,576,000 after purchasing an additional 35,569 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Up 0.8%

COR opened at $340.51 on Wednesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company’s 50 day moving average price is $324.08 and its two-hundred day moving average price is $317.45. The firm has a market capitalization of $64.98 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.73 and a beta of 0.58.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the business earned $4.00 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 17.88 earnings per share for the current year.

Insider Activity

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% 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. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on COR. Evercore reissued an “outperform” rating and set a $350.00 price target (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Bank of America lifted their price objective on Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Wells Fargo & Company upped their target price on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Leerink Partners increased their target price on Cencora from $380.00 to $388.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $368.38.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.