As reported by Fintel on February 26, 2024, Leerink Partners made a bold move by initiating coverage of Cencora (NYSE:COR) with an enthusiastic Outperform recommendation that set the stage on fire.
Analyst Price Forecast Indicating 7.60% Upside Potential
Recent data as of February 24, 2024, shows that the average one-year price target for Cencora stands at 256.49. Projections span from a low of 226.24 to a dazzling high of $280.35. This optimistic outlook points to a 7.60% rise from the latest closing price of 238.37.
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Cencora is anticipated to rake in an annual revenue of 277,270MM, an impressive increase of 2.10% in its trajectory. The estimated annual non-GAAP EPS stands at a robust 13.00.
Delving into Fund Sentiments
The investment landscape for Cencora sees a significant 108 new owners or a 5.80% surge in institutions or funds holding positions in the company, tallying up to an impressive 1970 entities. On average, the portfolio weight carved out for COR amounts to 0.39%, marking a slight drop of 0.89%. Institutional stakes have soared by 3.99% in the last quarter to reach 194,599K shares. 
The put/call ratio currently at 0.87, paints a rosy outlook for the future of COR.
Monitoring Other Shareholders’ Moves
Price T Rowe Associates has taken a decisive stance by securing 10,706K shares, which translates to a significant 5.37% stake in the company. Their recent filing reflects a positive uptick as they escalated their holding by 3.17%, marking a notable 8.06% surge in their allocation towards COR over the preceding quarter.
Jpmorgan Chase is another player in the game, holding 5,457K shares equating to a 2.74% ownership of Cencora. However, their recent actions show a downturn with a 21.24% decrease in shareholding compared to the prior filing. Their allotment towards COR has dipped by 18.03% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares retains 5,318K shares, reflecting a 2.67% ownership in Cencora. Nonetheless, there has been a minor decline of 0.79% in their stake, leading to a 3.69% reduction in portfolio allocation towards COR over the recent quarter.
Boston Partners asserts its position with 4,033K shares totalling a 2.02% ownership in the company. However, their recent actions unveil a dramatic decrease of 21.98% in shareholding compared to the prior period, resulting in a substantial 64.38% pullback in their allocation towards COR.
VFINX – Vanguard 500 Index Fund Investor Shares manages 4,006K shares, presenting a 2.01% ownership in Cencora. Their recent filing signals a hike as they increased their holding by 3.73%, yet their portfolio allocation towards COR dipped marginally by 0.53% over the past quarter.
A Glimpse into CoreSite Realty
(This information is provided by the company.)
CoreSite Realty Corporation is at the forefront of delivering secure, reliable, and high-performance data center solutions, cloud access, and interconnection services to a burgeoning customer base sprawled across eight prime North American markets. Over 1,375 top-tier enterprises, network operators, cloud providers, and supporting services opt for CoreSite to synchronize, safeguard, and optimize their performance-driven data, applications, and computational workloads. With a team of 460+ dedicated employees, their scalable and adaptable solutions offer a gamut of unparalleled data center options, ensuring a premier customer experience and fostering enduring relationships with clientele.
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This engaging narrative was originally featured on Fintel.
Remember, the opinions and stances articulated herein reflect the author’s personal viewpoints and may not necessarily align with those of Nasdaq, Inc.
