Jennison Associates LLC Increases Position in Cencora, Inc. $COR

Key Points

• Jennison Associates LLC increased its stake in Cencora by 2.5% to 174,003 shares (about $58.8M), and institutional investors now own 97.52% of the company, with Vanguard, State Street and JPMorgan among the largest holders.
• Sell-side analysts hold a consensus rating of Moderate Buy with an average price target of $398.17 (12 Buys, 3 Holds); several firms recently raised targets, including Barclays to $425.
• Cencora has a market cap of roughly $59.9B, posted a slight Q earnings beat ($4.08 vs. $4.04) with 5.5% revenue growth, carries a high debt-to-equity ratio (3.62), and pays a $0.60 quarterly dividend (~0.8% yield).

Jennison Associates LLC raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,003 shares of the company's stock after purchasing an additional 4,174 shares during the period. Jennison Associates LLC owned 0.09% of Cencora worth $58,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Cencora by 0.9% in 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 grew its position in shares of Cencora by 9.3% in the 3rd quarter. State Street Corp now owns 9,190,316 shares of the company's stock valued at $2,872,249,000 after buying an additional 782,911 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Cencora by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock valued at $1,461,965,000 after buying an additional 821,098 shares during the last quarter. Boston Partners grew its position in shares of Cencora by 2.0% in the 3rd quarter. Boston Partners now owns 4,509,165 shares of the company's stock valued at $1,409,152,000 after buying an additional 89,506 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Cencora by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company's stock valued at $1,241,094,000 after buying an additional 115,278 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on COR. Weiss Ratings raised shares of Cencora from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, February 5th. Evercore set a $360.00 target price on shares of Cencora in a research report on Wednesday, April 8th. Barclays increased their target price on shares of Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a research report on Friday, February 13th. William Blair began coverage on shares of Cencora in a research report on Tuesday. They issued a "market perform" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Cencora from $417.00 to $419.00 and gave the company an "overweight" rating in a research report on Tuesday, February 10th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $398.17.

Cencora Stock Down 1.1%

Shares of NYSE:COR opened at $307.90 on Friday. The stock has a market cap of $59.90 billion, a P/E ratio of 37.01, a P/E/G ratio of 1.45 and a beta of 0.72. The firm has a fifty day moving average price of $333.36 and a 200 day moving average price of $342.95. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. Cencora, Inc. has a 1-year low of $271.00 and a 1-year high of $377.54.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping 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%. Cencora's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.73 EPS. Sell-side analysts predict that Cencora, Inc. will post 17.56 EPS for the current year.

Cencora Announces Dividend

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

Cencora 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.