Crestline Management LP Invests $693,000 in Cencora, Inc. (NYSE:COR)

Crestline Management LP acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,086 shares of the company's stock, valued at approximately $693,000.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Cencora in the fourth quarter valued at approximately $478,309,000. Bank of America Corp DE raised its stake in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Cencora in the fourth quarter valued at approximately $399,508,000. Raymond James Financial Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $322,460,000. Finally, Invesco Ltd. raised its stake in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other Cencora news, 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 sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $301.18.

Cencora Trading Up 1.6%

NYSE:COR traded up $4.49 during trading hours on Thursday, hitting $283.64. The company had a trading volume of 620,877 shares, compared to its average volume of 1,535,379. The stock has a 50-day moving average price of $278.03 and a 200 day moving average price of $254.23. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The company has a market capitalization of $55.00 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.80 earnings per share. On average, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.78%. Cencora's dividend payout ratio (DPR) is 25.52%.

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.