Edgestream Partners L.P. Acquires 16,856 Shares of Cencora, Inc. (NYSE:COR)

Edgestream Partners L.P. boosted its holdings in Cencora, Inc. (NYSE:COR) by 585.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,734 shares of the company’s stock after purchasing an additional 16,856 shares during the quarter. Edgestream Partners L.P.’s holdings in Cencora were worth $4,434,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COR. JFS Wealth Advisors LLC increased its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cencora in the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Kentucky Trust Co bought a new stake in Cencora in the fourth quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co increased its holdings in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 0.3 %

Shares of Cencora stock opened at $254.54 on Friday. The stock has a fifty day simple moving average of $244.34 and a 200 day simple moving average of $238.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. The company has a market capitalization of $49.36 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. 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 (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (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%. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,648 shares of company stock valued at $2,862,342. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COR. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com downgraded Cencora from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

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.