Robert Mauch Sells 5,097 Shares of Cencora (NYSE:COR) Stock

Key Points

• Cencora CEO Robert Mauch sold 5,097 shares of company stock at an average price of $326.80, totaling approximately $1.67 million, which represents an 11.84% decrease in his ownership position.
• The company reported quarterly earnings of $4.00 per share, surpassing expectations, with revenue reaching $80.66 billion for the quarter, showing an 8.7% year-over-year increase.
• Recent analyst activity included Mizuho raising its price target for Cencora from $316.00 to $334.00, while the stock maintains a consensus rating of "Moderate Buy" with an average price target of $324.91.

Cencora, Inc. (NYSE:COR - Get Free Report) CEO Robert Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the transaction, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cencora Price Performance

Cencora stock traded up $0.97 during mid-day trading on Tuesday, hitting $328.36. The company's stock had a trading volume of 970,094 shares, compared to its average volume of 1,544,580. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $329.58. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $63.66 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.52 and a beta of 0.63. The stock's fifty day moving average price is $301.04 and its two-hundred day moving average price is $293.60.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same period in the previous year, the company posted $3.34 EPS. The company's quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

COR has been the topic of several research analyst reports. Mizuho lifted their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Wall Street Zen cut shares of Cencora from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and an average price target of $324.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in Cencora during the 3rd quarter worth $10,093,000. Signaturefd LLC lifted its position in Cencora by 2.0% during the 3rd quarter. Signaturefd LLC now owns 4,955 shares of the company's stock worth $1,549,000 after acquiring an additional 99 shares during the last quarter. PDS Planning Inc lifted its position in Cencora by 4.8% during the 3rd quarter. PDS Planning Inc now owns 1,389 shares of the company's stock worth $434,000 after acquiring an additional 64 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Cencora by 4.1% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 7,620 shares of the company's stock worth $2,381,000 after acquiring an additional 300 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Cencora during the 3rd quarter worth $2,804,000. Institutional investors and hedge funds own 97.52% of the company's stock.

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.

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