Insider Selling: Cencora, Inc. (NYSE:COR) Chairman Sells 14,578 Shares of Stock

Cencora, Inc. (NYSE:COR - Get Free Report) Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cencora Stock Performance

COR traded up $0.57 during trading hours on Friday, hitting $291.02. The stock had a trading volume of 372,293 shares, compared to its average volume of 1,588,567. The company's fifty day simple moving average is $293.31 and its 200 day simple moving average is $273.89. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The stock has a market cap of $56.40 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 1.45 and a beta of 0.57. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter in the previous year, the firm posted $3.80 EPS. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora's dividend payout ratio is currently 25.52%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Genesee Capital Advisors LLC raised its holdings in shares of Cencora by 1.8% during the 2nd quarter. Genesee Capital Advisors LLC now owns 6,072 shares of the company's stock valued at $1,821,000 after buying an additional 110 shares in the last quarter. CWM LLC increased its holdings in shares of Cencora by 15.4% in the second quarter. CWM LLC now owns 11,792 shares of the company's stock worth $3,536,000 after buying an additional 1,575 shares during the period. OFI Invest Asset Management purchased a new position in shares of Cencora in the second quarter worth about $112,000. Vanguard Personalized Indexing Management LLC increased its holdings in Cencora by 25.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,506 shares of the company's stock valued at $10,047,000 after purchasing an additional 6,790 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Cencora by 8.9% during the second quarter. Concurrent Investment Advisors LLC now owns 9,421 shares of the company's stock valued at $2,825,000 after buying an additional 767 shares during the period. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Robert W. Baird lifted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

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.