Insider Selling: Cencora, Inc. (NYSE:COR) CEO Sells 10,754 Shares of Stock

Cencora, Inc. (NYSE:COR) CEO Steven H. Collis sold 10,754 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cencora Stock Up 0.1 %

Shares of Cencora stock traded up $0.34 during trading on Wednesday, hitting $238.60. 1,028,617 shares of the stock traded hands, compared to its average volume of 1,249,468. The firm has a market cap of $47.60 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 3.94. Cencora, Inc. has a 52-week low of $163.37 and a 52-week high of $246.75. The stock’s fifty day simple moving average is $237.44 and its 200 day simple moving average is $213.83.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.86 by $0.42. The firm had revenue of $72.25 billion for the quarter, compared to analyst estimates of $68.81 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. During the same quarter last year, the firm posted $2.71 earnings per share. On average, equities analysts predict that Cencora, Inc. will post 13.43 earnings per share for the current fiscal year.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.85%. The ex-dividend date was Thursday, February 8th. This is a positive change from Cencora’s previous quarterly dividend of $0.24. Cencora’s payout ratio is 22.22%.

Analysts Set New Price Targets

COR has been the subject of several research analyst reports. Barclays initiated coverage on Cencora in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 target price for the company. SVB Leerink initiated coverage on Cencora in a research report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price for the company. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Leerink Partnrs reiterated an “outperform” rating on shares of Cencora in a research report on Monday, February 26th. Finally, Mizuho lifted their target price on Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.22.

Hedge Funds Weigh In On Cencora

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. grew its stake in Cencora by 61.8% in the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Kinneret Advisory LLC boosted its holdings in Cencora by 2.3% in the first quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock worth $682,000 after acquiring an additional 98 shares in the last quarter. Rise Advisors LLC acquired a new stake in Cencora in the first quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its holdings in Cencora by 0.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,174 shares of the company’s stock worth $3,343,000 after acquiring an additional 103 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Cencora by 1.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,366 shares of the company’s stock worth $1,552,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 97.52% 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.