Cencora, Inc. (NYSE:COR) Short Interest Update

Cencora, Inc. (NYSE:COR) was the recipient of a large growth in short interest in February. As of February 13th, there was short interest totaling 5,368,048 shares, a growth of 21.1% from the January 29th total of 4,431,865 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,670,481 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily trading volume, of 1,670,481 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.8% of the shares of the stock are sold short.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the transaction, the chief executive officer owned 66,726 shares in the company, valued at approximately $23,669,713.98. The trade was a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the sale, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. The trade was a 12.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,220 shares of company stock valued at $5,282,867. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently bought and sold shares of the company. United Bank grew its stake in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Cencora by 712.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 203 shares of the company’s stock worth $61,000 after purchasing an additional 178 shares in the last quarter. IFG Advisory LLC purchased a new stake in Cencora during the 2nd quarter worth approximately $218,000. Freestone Capital Holdings LLC purchased a new position in shares of Cencora in the second quarter worth $1,529,000. Finally, Bridgewater Advisors Inc. lifted its stake in shares of Cencora by 43.3% during the second quarter. Bridgewater Advisors Inc. now owns 1,184 shares of the company’s stock worth $355,000 after buying an additional 358 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Down 3.3%

COR stock traded down $12.31 during trading on Thursday, hitting $355.88. 669,539 shares of the company’s stock traded hands, compared to its average volume of 1,206,238. The business has a fifty day simple moving average of $353.51 and a two-hundred day simple moving average of $335.52. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The firm has a market capitalization of $69.23 billion, a P/E ratio of 42.77, a PEG ratio of 1.73 and a beta of 0.68. Cencora has a 1 year low of $248.59 and a 1 year high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm had revenue of $85.93 billion during the quarter, compared to analyst estimates of $86.12 billion. During the same period in the previous year, the company posted $3.73 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Cencora will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s payout ratio is 28.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Barclays increased their price target on Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Wells Fargo & Company upped their price objective on Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. lifted their target price on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, Bank of America reduced their price target on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.00.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.