Steven H. Collis Sells 21,509 Shares of Cencora, Inc. (NYSE:COR) Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cencora Stock Up 0.9 %

Shares of NYSE:COR traded up $2.30 during midday trading on Thursday, reaching $245.50. The company’s stock had a trading volume of 611,199 shares, compared to its average volume of 1,402,125. The firm has a 50 day moving average of $232.96 and a 200-day moving average of $231.37. The firm has a market capitalization of $48.38 billion, a P/E ratio of 32.38, a PEG ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new position in Cencora in the first quarter valued at approximately $9,962,000. Covestor Ltd acquired a new position in Cencora in the 1st quarter valued at about $55,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Cencora in the first quarter valued at about $465,000. American International Group Inc. acquired a new stake in shares of Cencora during the 1st quarter worth about $10,872,000. Finally, InterOcean Capital Group LLC purchased a new position in shares of Cencora during the first quarter valued at approximately $251,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COR. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Evercore ISI increased their price objective on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.20.

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.