Steven H. Collis Sells 25,000 Shares of Cencora, Inc. (NYSE:COR) Stock

Posted by Defense World Staff on Oct 13th, 2023

Cencora, Inc. (NYSE:COR – Get Free Report) CEO Steven H. Collis sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total transaction of $4,627,000.00. Following the transaction, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cencora Price Performance

NYSE COR opened at $187.57 on Friday. The stock has a market capitalization of $37.92 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.67 and a beta of 0.55. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.52 and a current ratio of 0.88. The business’s fifty day moving average is $186.00 and its two-hundred day moving average is $174.77. Cencora, Inc. has a 1 year low of $136.07 and a 1 year high of $194.79.

Cencora (NYSE:COR – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.83 by $0.09. Cencora had a return on equity of 612.69% and a net margin of 0.66%. The business had revenue of $66.95 billion during the quarter, compared to the consensus estimate of $63.93 billion. During the same period in the prior year, the business posted $2.62 earnings per share. Cencora’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts forecast that Cencora, Inc. will post 11.93 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Friday, August 11th were given a $0.485 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.94 annualized dividend and a dividend yield of 1.03%. Cencora’s dividend payout ratio (DPR) is presently 23.63%.

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its position in Cencora by 61.8% during the first quarter. Harbour Investments Inc. now owns 165 shares of the company’s stock valued at $26,000 after buying an additional 63 shares during the period. Tilia Fiduciary Partners Inc. increased its holdings in shares of Cencora by 321.2% in the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 139 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Cascade Investment Advisors Inc. acquired a new stake in shares of Cencora during the first quarter worth approximately $32,000. Creative Financial Designs Inc. ADV grew its position in Cencora by 50.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 175 shares of the company’s stock valued at $34,000 after purchasing an additional 59 shares in the last quarter. Finally, Resources Management Corp CT ADV increased its stake in Cencora by 262.1% in the 1st quarter. Resources Management Corp CT ADV now owns 525 shares of the company’s stock valued at $37,000 after buying an additional 380 shares during the period. 93.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on COR shares. TheStreet raised Cencora from a “c” rating to a “b” rating in a report on Monday. Evercore ISI increased their price target on Cencora from $210.00 to $225.00 in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of Cencora from $176.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. StockNews.com initiated coverage on shares of Cencora in a research report on Sunday, October 1st. They issued a “strong-buy” rating for the company. Finally, Bank of America upped their price target on shares of Cencora from $200.00 to $212.00 in a research note on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.21.

Get Our Latest Stock Report on COR

Cencora Company Profile

(Get Free Report)

Cencora, Inc sources and distributes pharmaceutical products. Its 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.