Short Interest in Cencora, Inc. (NYSE:COR) Increases By 7.9%

Cencora, Inc. (NYSE:COR) 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) 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

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.92%. Cencora’s dividend payout ratio is currently 22.32%.

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.

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.