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

Cencora, Inc. (NYSE:COR) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 5,368,048 shares, an increase of 21.1% from the January 29th total of 4,431,865 shares. Based on an average daily volume of 1,670,481 shares, the short-interest ratio is currently 3.2 days. Currently, 2.8% of the company’s shares are short sold. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 1,670,481 shares, the short-interest ratio is currently 3.2 days.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,677 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $345.00, for a total transaction of $578,565.00. Following the completion of the sale, the executive vice president directly owned 18,796 shares in the company, valued at $6,484,620. This trade represents a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,220 shares of company stock valued at $5,282,867 in the last quarter. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On Cencora

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cencora by 13.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company’s stock worth $15,086,000 after purchasing an additional 5,543 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Cencora in the third quarter valued at about $26,191,000. Acadian Asset Management LLC lifted its position in Cencora by 947.5% during the second quarter. Acadian Asset Management LLC now owns 257,082 shares of the company’s stock worth $77,069,000 after purchasing an additional 232,539 shares during the period. Mediolanum International Funds Ltd grew its stake in Cencora by 133.0% during the third quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company’s stock worth $17,342,000 after buying an additional 32,138 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Cencora by 40.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company’s stock valued at $5,407,000 after buying an additional 4,973 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of COR opened at $359.05 on Friday. The firm has a market capitalization of $69.85 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.72 and a beta of 0.68. The firm’s fifty day simple moving average is $353.83 and its 200-day simple moving average is $335.69. Cencora has a twelve month low of $248.59 and a twelve month high of $377.54. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.73 EPS. Equities analysts forecast that Cencora will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio (DPR) is 28.85%.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. TD Cowen increased their target price on shares of Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Evercore decreased their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.00.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.