Artemis Investment Management LLP Purchases 14,353 Shares of Cencora, Inc. $COR

Key Points

• Artemis Investment Management LLP increased its stake in Cencora by 54.4%, buying 14,353 shares to hold 40,737 shares worth about $13.76 million at the end of the quarter.
• Analyst sentiment is mildly positive with a consensus rating of Moderate Buy (12 Buys, 3 Holds) and a consensus price target of roughly $398.17, while recent individual targets range from $360 to $380.
• Cencora posted a slight EPS beat ($4.08 vs. $4.04), revenue grew 5.5% year-over-year, the company has a market cap of about $59.2B and a P/E near 36.6, and it pays a quarterly dividend of $0.60 (annualized yield ~0.8%).

Artemis Investment Management LLP raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 54.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,737 shares of the company's stock after acquiring an additional 14,353 shares during the quarter. Artemis Investment Management LLP's holdings in Cencora were worth $13,759,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COR. Oakworth Capital Inc. acquired a new stake in Cencora in the fourth quarter worth $26,000. Archer Investment Corp grew its holdings in shares of Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after buying an additional 47 shares during the period. IAG Wealth Partners LLC bought a new stake in shares of Cencora in the 3rd quarter valued at $30,000. Cloud Capital Management LLC bought a new stake in shares of Cencora in the 3rd quarter valued at $31,000. Finally, Caitlin John LLC acquired a new stake in Cencora during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COR shares. Bank of America dropped their price target on Cencora from $380.00 to $360.00 and set a "neutral" rating on the stock in a research report on Monday, January 5th. Leerink Partners reissued an "outperform" rating on shares of Cencora in a research note on Tuesday, March 17th. Evercore set a $360.00 target price on shares of Cencora in a report on Wednesday, April 8th. William Blair began coverage on shares of Cencora in a research note on Tuesday. They issued a "market perform" rating on the stock. Finally, Morgan Stanley set a $380.00 price target on shares of Cencora in a report on Tuesday, March 17th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $398.17.

Cencora Price Performance

Shares of COR opened at $304.18 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. The company's fifty day simple moving average is $333.36 and its 200 day simple moving average is $343.13. Cencora, Inc. has a 1-year low of $271.00 and a 1-year high of $377.54. The company has a market cap of $59.17 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 1.42 and a beta of 0.65.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. The firm had revenue of $85.93 billion during the quarter, compared to analysts' expectations of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.73 earnings per share. On average, research analysts forecast that Cencora, Inc. will post 17.56 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's payout ratio is presently 28.85%.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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