Insider Selling: Cencora (NYSE:COR) EVP Sells $3,662,556.00 in Stock

Cencora, Inc. (NYSE:COR) EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Cencora Stock Performance

Cencora stock traded up $4.51 during mid-day trading on Tuesday, hitting $328.28. The company had a trading volume of 1,086,395 shares, compared to its average volume of 1,528,493. The company has a market capitalization of $62.65 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company’s fifty day moving average is $303.43 and its 200-day moving average is $311.25. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the firm earned $4.00 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

Cencora declared that its board has authorized a share repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Cencora

Several institutional investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new position in shares of Cencora during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. acquired a new position in Cencora in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC lifted its holdings in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Finally, Archer Investment Corp lifted its holdings in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on COR. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Bank of America increased their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Company Profile

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.