Insider Selling: Cencora, Inc. (NYSE:COR) CAO Sells 2,000 Shares of Stock

Cencora, Inc. (NYSE:COR) CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cencora Trading Up 0.6 %

COR stock opened at $255.64 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $263.70. The company’s 50-day simple moving average is $247.01 and its 200-day simple moving average is $238.93. The firm has a market cap of $49.57 billion, a P/E ratio of 36.36, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Institutional Investors Weigh In On Cencora

Institutional investors have recently bought and sold shares of the company. Swedbank AB raised its holdings in shares of Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after acquiring an additional 31,104 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Cencora during the third quarter worth approximately $297,000. CWA Asset Management Group LLC acquired a new position in Cencora in the 3rd quarter valued at $285,000. United Bank raised its stake in Cencora by 4.2% in the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after purchasing an additional 225 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Cencora by 33.8% in the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company’s stock valued at $571,000 after purchasing an additional 641 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COR. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

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.