Cencora (COR) Reported a Strong Q4 and Rose 14%

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Cencora, Inc. (NYSE:COR) in the Q4 2023 investor letter. Headquartered in Conshohocken, Pennsylvania, Cencora, Inc. (NYSE:COR) sources and distributes pharmaceutical products. On March 28, 2024, Cencora, Inc. (NYSE:COR) stock closed at $242.99 per share. One-month return of Cencora, Inc. (NYSE:COR) was 3.14%, and its shares gained 52.50% of their value over the last 52 weeks. Cencora, Inc. (NYSE:COR) has a market capitalization of $48.421 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Cencora, Inc. (NYSE:COR) in its fourth quarter 2023 investor letter:

“Our preference within Health Care is for novel therapies to address unmet medical needs, specialized providers, and innovators. Cencora, Inc. (NYSE:COR) sources and distributes pharmaceutical products. Another strong quarter boosted its stock by 14%, with beats across all major metrics. Cencora’s mix is heavily weighted to specialty drugs and that continues to drive above market growth. Management’s forward guidance was better than feared.”

A close-up of a staff member counting pills in a pharmaceutical warehouse.

Cencora, Inc. (NYSE:COR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Cencora, Inc. (NYSE:COR) was held by 48 hedge fund portfolios, compared to 43 in the previous quarter, according to our database.

We discussed Cencora, Inc. (NYSE:COR) in another article and shared the list of best pharma dividend stocks to buy in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.