Cencora, Inc. (NYSE:COR – Get Free Report) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 9,400,000 shares, a growth of 7.9% from the May 31st total of 8,710,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is presently 6.7 days. Approximately 5.4% of the shares of the stock are sold short.
Cencora Trading Down 0.4 %
COR stock traded down $0.97 during mid-day trading on Tuesday, reaching $222.56. The company had a trading volume of 1,455,291 shares, compared to its average volume of 1,410,140. The company has a market capitalization of $44.39 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.57 and a beta of 0.45. The firm has a 50 day moving average of $228.85 and a 200 day moving average of $228.32. Cencora has a 12 month low of $171.65 and a 12 month high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53.
Cencora (NYSE:COR – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The firm had revenue of $68.41 billion during the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 earnings per share. On average, equities analysts predict that Cencora will post 13.44 earnings per share for the current fiscal year.
Cencora Dividend Announcement
Insider Transactions at Cencora
In other news, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Robert P. Mauch sold 57,564 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $235.09, for a total value of $13,532,720.76. Following the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dermot Mark Durcan purchased 500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is currently owned by insiders.
Institutional Trading of Cencora
A number of hedge funds have recently added to or reduced their stakes in COR. Fisher Asset Management LLC bought a new position in shares of Cencora in the 4th quarter worth $244,000. Trust Co. of Vermont bought a new position in Cencora in the fourth quarter worth about $62,000. Wahed Invest LLC purchased a new stake in shares of Cencora during the fourth quarter valued at about $567,000. Vanguard Group Inc. bought a new stake in shares of Cencora in the 4th quarter valued at about $4,212,508,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Cencora in the 4th quarter worth approximately $3,307,000. 97.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
COR has been the topic of several recent research reports. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup increased their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird raised their target price on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, SVB Leerink reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.30.
Check Out Our Latest Stock Analysis on Cencora
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.
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