Jim Cramer Shed Light on These 9 Stocks

5. Cencora, Inc. (NYSE:COR)

Number of Hedge Fund Holders: 45

Cramer praised Cencora, Inc. (NYSE:COR) but noted that there is a possibility that the stock might go lower.

“Cencora, Conshohocken… Used to be the old ABC, AmerisourceBergen. I have to tell you, I think that Steve Collis is really, really smart. I met him last year at the JPMorgan Healthcare… their conference. I gotta tell you, I think the stock can go lower because a lot of people don’t like… They don’t like McKesson. I prefer Cardinal to this one, but I did like the acquisition.”

Cencora (NYSE:COR) distributes pharmaceutical products and healthcare services globally, serving various healthcare providers with services such as pharmacy management, clinical trial support, and specialty logistics. Cramer’s preferred stock of Cardinal Health gained over 148% over the past 5 years while COR stock went up more than 200% during the same period.

TimesSquare Capital Management stated the following regarding Cencora, Inc. (NYSE:COR) in its Q3 2024 investor letter:

“Our preferences among Health Care stocks are those companies providing novel therapies for unmet needs that deserve premium pricing, or specialized service providers. Cencora, Inc. (NYSE:COR), a pharmaceutical products distributor, had a flat return due to uneven fiscal third quarter results. US health care revenues grew for the quarter, however, international fell short. Gross margins deteriorated due to a higher mix of GLP-1s.”