Highland Capital Management LLC Takes Position in Cencora, Inc. $COR

Key Points

• Highland Capital Management bought a new stake of 6,952 shares in Cencora (NYSE:COR) in Q4, valued at about $2.35 million.
• Cencora is heavily institutionally owned (about 97.52%), with large holders like Vanguard, State Street and JPMorgan all increasing their positions recently.
• The stock has a $59.5 billion market cap and a P/E of 36.77; Cencora beat EPS estimates last quarter ($4.08 vs. $4.04) and carries a consensus analyst rating of "Moderate Buy" with an average target of $398.17.

Highland Capital Management LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,952 shares of the company's stock, valued at approximately $2,348,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock valued at $7,976,681,000 after buying an additional 221,570 shares during the last quarter. State Street Corp lifted its stake in Cencora by 9.3% during the third quarter. State Street Corp now owns 9,190,316 shares of the company's stock worth $2,872,249,000 after purchasing an additional 782,911 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cencora by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock worth $1,461,965,000 after purchasing an additional 821,098 shares during the last quarter. Boston Partners lifted its stake in Cencora by 2.0% during the third quarter. Boston Partners now owns 4,509,165 shares of the company's stock worth $1,409,152,000 after purchasing an additional 89,506 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Cencora by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company's stock worth $1,241,094,000 after purchasing an additional 115,278 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR stock opened at $305.89 on Wednesday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 1.42 and a beta of 0.64. Cencora, Inc. has a 1 year low of $271.00 and a 1 year high of $377.54. The stock's fifty day moving average is $332.27 and its two-hundred day moving average is $343.21.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. The company had revenue of $85.93 billion for the quarter, compared to analysts' expectations of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $3.73 earnings per share. On average, research analysts predict that Cencora, Inc. will post 17.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COR shares. Wells Fargo & Company raised their price objective on Cencora from $405.00 to $429.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. raised their price objective on Cencora from $417.00 to $419.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Evercore set a $360.00 price objective on Cencora in a research note on Wednesday, April 8th. Barclays raised their price objective on Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Finally, Jefferies Financial Group upgraded Cencora from an "underperform" rating to a "buy" rating in a research note on Thursday, January 22nd. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $398.17.

Cencora Company Profile

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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