Bridgewater Advisors Inc. Has $355,000 Stock Position in Cencora, Inc. $COR

Bridgewater Advisors Inc. raised its position in shares of Cencora, Inc. (NYSE:COR) by 43.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,184 shares of the company’s stock after purchasing an additional 358 shares during the period. Bridgewater Advisors Inc.’s holdings in Cencora were worth $355,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Cencora during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora during the first quarter worth $39,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Cencora by 712.0% during the second quarter. Hantz Financial Services Inc. now owns 203 shares of the company’s stock worth $61,000 after buying an additional 178 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on COR shares. Mizuho upped their price target on shares of Cencora from $334.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Wells Fargo & Company boosted their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cencora in a research note on Thursday, October 30th. Finally, Evercore ISI set a $340.00 price objective on shares of Cencora in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $329.55.

Cencora Stock Performance

Shares of COR opened at $340.74 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $66.06 billion, a P/E ratio of 35.06, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. The firm’s fifty day simple moving average is $309.14 and its two-hundred day simple moving average is $297.57. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $350.46.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 earnings per share. As a group, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. Cencora’s dividend payout ratio is 22.63%.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares of the company’s stock, valued at $12,398,792. This represents a 11.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,544 shares of company stock worth $12,230,941 in the last ninety days. Insiders own 10.80% of the company’s stock.

Cencora Company 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.