Bridgewater Associates LP Trims Stock Position in Cencora, Inc. (NYSE:COR)

Bridgewater Associates LP lowered its stake in Cencora, Inc. (NYSE:COR) by 16.8% during the fourth quarter, HoldingsChannel reports. The firm owned 197,536 shares of the company’s stock after selling 39,914 shares during the quarter. Bridgewater Associates LP’s holdings in Cencora were worth $44,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Passumpsic Savings Bank boosted its holdings in shares of Cencora by 4.9% in the third quarter. Passumpsic Savings Bank now owns 6,464 shares of the company’s stock valued at $1,455,000 after acquiring an additional 304 shares in the last quarter. Virtu Financial LLC increased its position in Cencora by 112.2% during the 3rd quarter. Virtu Financial LLC now owns 10,227 shares of the company’s stock worth $2,302,000 after purchasing an additional 5,407 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Cencora in the 3rd quarter valued at approximately $4,072,000. Arvest Bank Trust Division acquired a new stake in Cencora in the third quarter valued at $218,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Cencora during the 3rd quarter worth $566,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. The trade was a 21.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock valued at $8,034,778 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of COR opened at $284.21 on Tuesday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $296.65. The company’s 50 day simple moving average is $260.88 and its 200 day simple moving average is $245.57. The company has a market capitalization of $55.11 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 1.31 and a beta of 0.55. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI boosted their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company upped their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $284.20.

Cencora Company 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.