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

Cencora, Inc. (NYSE:COR) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 9,620,000 shares, a decrease of 6.1% from the September 30th total of 10,240,000 shares. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is presently 6.3 days. Approximately 5.5% of the shares of the company are short sold.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Cencora

A number of institutional investors have recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC acquired a new stake in shares of Cencora during the second quarter valued at approximately $655,000. TD Asset Management Inc acquired a new stake in shares of Cencora in the first quarter worth $95,313,000. LSV Asset Management purchased a new position in shares of Cencora during the first quarter valued at $3,579,000. Lake Street Advisors Group LLC purchased a new position in shares of Cencora during the first quarter valued at $836,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Cencora during the first quarter valued at $15,632,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 2.7 %

NYSE COR opened at $234.27 on Friday. Cencora has a 12 month low of $184.00 and a 12 month high of $247.66. The company has a market capitalization of $46.16 billion, a P/E ratio of 24.76, a PEG ratio of 1.46 and a beta of 0.44. The company’s 50 day simple moving average is $231.46 and its 200 day simple moving average is $230.71. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 earnings per share. Equities research analysts expect that Cencora will post 13.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COR. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI reduced their price target on Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Bank of America reissued a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Leerink Partners dropped their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.44.

About Cencora

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.