Cencora, Inc. (NYSE:COR) Sees Large Growth in Short Interest

Cencora, Inc. (NYSE:COR) was the recipient of a significant growth in short interest in 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 currently 6.7 days. Approximately 5.4% of the shares of the stock are sold short.

Insider Activity at Cencora

In other Cencora news, COO Robert P. Mauch sold 57,564 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value 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 is available at the SEC website. In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert P. Mauch sold 57,564 shares of Cencora stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is owned by company insiders.

Institutional Trading of Cencora

Large investors have recently modified their holdings of the company. Cairn Investment Group Inc. bought a new stake in Cencora during the 1st quarter valued at $2,294,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Cencora in the 1st quarter worth approximately $1,862,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Cencora in the 1st quarter valued at $13,090,000. NBC Securities Inc. acquired a new position in shares of Cencora during the first quarter valued at about $976,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Cencora in the 1st quarter valued at approximately $2,114,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup lifted their price target on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their price objective on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $235.30.

Cencora Price Performance

COR opened at $222.50 on Thursday. The business has a fifty day moving average of $228.24 and a 200 day moving average of $228.43. The stock has a market cap of $44.38 billion, a P/E ratio of 24.34, a PEG ratio of 1.57 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora has a 52-week low of $171.65 and a 52-week high of $246.75.

Cencora (NYSE:COR) last issued its 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 net margin of 0.67% and a return on equity of 268.67%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 earnings per share. As a group, sell-side analysts anticipate that Cencora will post 13.44 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

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.