Short Interest in Cencora, Inc. (NYSE:COR) Drops By 23.6%

Cencora, Inc. (NYSE:COR) was the recipient of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 6,880,000 shares, a drop of 23.6% from the January 31st total of 9,010,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is presently 5.2 days. Currently, 3.8% of the shares of the stock are short sold.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Cencora

Hedge funds have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC lifted its position in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares during the period. Banque Transatlantique SA acquired a new position in shares of Cencora in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Cencora in the 4th quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the period. Finally, Kentucky Trust Co acquired a new position in shares of Cencora in the 4th quarter worth approximately $33,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group raised their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Stock Up 0.7 %

NYSE:COR opened at $255.22 on Tuesday. The firm’s 50 day simple moving average is $242.26 and its 200 day simple moving average is $237.98. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora has a one year low of $214.77 and a one year high of $262.26. The company has a market cap of $49.49 billion, a PE ratio of 36.30, a P/E/G ratio of 1.31 and a beta of 0.49.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, research analysts anticipate that Cencora will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is presently 31.29%.

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.