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 dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the transaction, 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 SEC, which is available through the SEC website.

Cencora Stock Up 0.1 %

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

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

Cencora Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. United Bank boosted its stake in shares of Cencora by 16.6% in the first quarter. United Bank now owns 3,632 shares of the company’s stock valued at $562,000 after buying an additional 518 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Cencora by 29.9% in the first quarter. Raymond James Trust N.A. now owns 5,193 shares of the company’s stock valued at $803,000 after buying an additional 1,194 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Cencora by 123.4% in the first quarter. Synovus Financial Corp now owns 6,301 shares of the company’s stock valued at $975,000 after buying an additional 3,480 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Cencora by 22.5% in the first quarter. Vontobel Holding Ltd. now owns 2,767 shares of the company’s stock valued at $430,000 after buying an additional 508 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Cencora by 12.4% in the first quarter. Blair William & Co. IL now owns 8,124 shares of the company’s stock valued at $1,257,000 after buying an additional 899 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COR shares. SVB Leerink started coverage on Cencora in a 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 report on Thursday, February 1st. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Barclays started coverage on Cencora in a report on Wednesday, January 3rd. They set an “overweight” rating and a $242.00 target price for the company. Finally, Mizuho raised their target price on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $218.22.

About Cencora

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.