Short Interest in Cencora, Inc. (NYSE:COR) Declines By 6.1%

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

Insider Activity

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

Institutional Trading of Cencora

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cencora in the first quarter valued at about $2,183,619,000. JPMorgan Chase & Co. bought a new position in Cencora during the first quarter valued at about $1,199,695,000. Boston Partners bought a new position in Cencora during the first quarter valued at about $1,001,269,000. Capital Research Global Investors bought a new position in Cencora during the first quarter valued at about $650,424,000. Finally, Bessemer Group Inc. bought a new position in Cencora during the first quarter valued at about $556,245,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.4 %

COR traded up $0.81 during trading on Thursday, hitting $230.29. 338,873 shares of the company’s stock were exchanged, compared to its average volume of 1,400,207. The business’s 50 day moving average is $231.71 and its two-hundred day moving average is $230.72. The stock has a market cap of $45.38 billion, a P/E ratio of 24.92, a PEG ratio of 1.40 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora has a fifty-two week low of $182.75 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.92 earnings per share. As a group, equities analysts expect that Cencora will post 13.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COR has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird reduced their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com downgraded 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 target price 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $259.44.

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.