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

Cencora, Inc. (NYSE:COR) saw a significant growth in short interest in 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 trading volume of 1,400,000 shares, the days-to-cover ratio is currently 6.7 days. Currently, 5.4% of the company’s shares are sold short.

Cencora Stock Down 0.0 %

Shares of Cencora stock traded down $0.01 on Wednesday, reaching $222.50. The company’s stock had a trading volume of 648,031 shares, compared to its average volume of 1,404,140. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 24.35, a P/E/G 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. The firm’s fifty day simple moving average is $228.55 and its two-hundred day simple moving average is $228.47.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $3.50 EPS. Equities analysts anticipate that Cencora will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

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

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Steven H. Collis sold 10,754 shares of Cencora 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 sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,675 shares of company stock worth $422,352,056 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank grew its holdings in shares of Cencora by 29.4% in the second quarter. First Hawaiian Bank now owns 8,633 shares of the company’s stock worth $1,945,000 after acquiring an additional 1,963 shares during the period. GAMMA Investing LLC grew its stake in shares of Cencora by 35.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,762 shares of the company’s stock valued at $622,000 after purchasing an additional 723 shares during the period. Transcend Capital Advisors LLC increased its position in shares of Cencora by 12.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 15,855 shares of the company’s stock valued at $3,572,000 after purchasing an additional 1,726 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Cencora in the 1st quarter worth approximately $1,137,000. Finally, HM Payson & Co. purchased a new position in shares of Cencora in the first quarter worth approximately $708,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. SVB Leerink restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird lifted their price objective on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Three research 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 stock currently has an average rating of “Moderate Buy” and a consensus 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.