38,339 Cencora, Inc. $COR Shares Purchased by TrinityBridge Ltd

Key Points

• TrinityBridge increased its Cencora stake by 35.8% in the third quarter, buying 38,339 shares to bring its holding to 145,444 shares, valued at about $43.7 million.
• Cencora reported quarterly earnings of $4.48 per share, beating estimates of $4.35; revenue was $84.75 billion, up 5.1% year over year and also above consensus.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $368.38. Fourteen analysts rate the stock Buy and four rate it Hold.

TrinityBridge Ltd lifted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 35.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 145,444 shares of the company's stock after acquiring an additional 38,339 shares during the period. Cencora makes up approximately 1.3% of TrinityBridge Ltd's investment portfolio, making the stock its 24th largest holding. TrinityBridge Ltd owned 0.08% of Cencora worth $43,692,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Integrity Alliance LLC. grew its position in shares of Cencora by 4.6% in the third quarter. Integrity Alliance LLC. now owns 5,497 shares of the company's stock valued at $1,651,000 after purchasing an additional 240 shares during the period. Integrity Advisory Solutions LLC purchased a new stake in shares of Cencora during the third quarter worth approximately $207,000. GRIMES & Co WEALTH MANAGEMENT LLC lifted its position in shares of Cencora by 3.7% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 1,313 shares of the company's stock worth $394,000 after buying an additional 47 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Cencora in the 3rd quarter valued at about $18,546,000. Finally, Vise Technologies Inc. purchased a new stake in Cencora in the 3rd quarter valued at $2,957,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

NYSE COR opened at $340.51 on Wednesday. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The stock has a market cap of $64.98 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a 50-day moving average price of $324.08 and a two-hundred day moving average price of $317.45.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business 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 firm earned $4.00 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Cencora, Inc. will post 17.88 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on COR. Evercore reiterated an "outperform" rating and issued a $350.00 price objective (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Morgan Stanley raised their price objective on Cencora from $346.00 to $377.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. Finally, Citigroup reiterated a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $368.38.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

Cencora Profile

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.

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