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

Cencora, Inc. (NYSE:COR) was the target of 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. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is currently 6.3 days. Approximately 5.5% of the company’s stock are sold short.

Cencora Trading Up 2.7 %

Shares of COR stock opened at $234.27 on Friday. The firm has a market capitalization of $46.16 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.46 and a beta of 0.44. Cencora has a 1 year low of $184.00 and a 1 year high of $247.66. The firm’s fifty day simple moving average is $231.46 and its 200 day simple moving average is $230.71. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the previous year, the firm posted $2.92 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cencora will post 13.64 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on COR shares. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI decreased their target price 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 issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Robert W. Baird decreased their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’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 transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. acquired a new stake in Cencora during the first quarter worth $1,199,695,000. Boston Partners bought a new stake in Cencora in the 1st quarter valued at $1,001,269,000. Capital Research Global Investors acquired a new position in shares of Cencora in the 1st quarter valued at $650,424,000. Finally, Bessemer Group Inc. acquired a new position in shares of Cencora in the 1st quarter valued at $556,245,000. 97.52% of the stock is owned by institutional investors and hedge funds.

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.