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 that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cencora Price Performance

Shares of Cencora stock opened at $260.87 on Wednesday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $263.70. The stock has a market capitalization of $50.59 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a fifty day moving average of $245.81 and a 200-day moving average of $238.70. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.84%. Cencora’s dividend payout ratio is 31.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COR. Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Hickory Asset Management Inc. bought a new stake in Cencora during the fourth quarter valued at approximately $572,000. Sylvest Advisors LLC bought a new position in Cencora during the fourth quarter valued at $1,105,000. Insight Wealth Strategies LLC grew its holdings in shares of Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after purchasing an additional 11,232 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Cencora by 10.1% in the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after acquiring an additional 1,995 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

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.