Keeping an Eye on Cencora Inc. (COR) After Insider Trading Activity


In a filing, Cencora Inc. revealed its Chairman, President & CEO COLLIS STEVEN H unloaded Company’s shares for reported $1.95 million on Aug 08. In the deal valued at $186.19 per share,10,499 shares were sold. As a result of this transaction, COLLIS STEVEN H now holds 257,967 shares worth roughly $ 45.13 million.

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Then, Walgreens Boots Alliance, Inc. sold 1,320,858 shares, generating $250,000,115 in total proceeds. Upon selling the shares at $189.27, the 10% Owner now owns 31,769,546 shares.

Before that, COLLIS STEVEN H sold 10,499 shares. Cencora Inc. shares valued at $2,024,942 were divested by the Chairman, President & CEO at a price of $192.87 per share. As a result of the transaction, COLLIS STEVEN H now holds 257,967 shares, worth roughly $45.13 million.

Citigroup initiated its Cencora Inc. [COR] rating to a Buy in a research note published on Friday, March 31, 2023; the price target was $185. PT values the company’s stock at a premium of 5.43 to its Friday closing price.

Price Performance Review of COR

On Friday, Cencora Inc. [NYSE:COR] saw its stock fall -0.58% to $174.96. On the same session, the stock had its day’s lowest price of $174.22, but rose to a high of $177.08. Over the last five days, the stock has lost -2.52%. Cencora Inc. shares have risen nearly 5.58% since the year began. Nevertheless, the stocks have risen 19.38% over the past one year. While a 52-week high of $194.79 was reached on 07/21/23, a 52-week low of $135.14 was recorded on 03/15/23. SMA at 50 days reached $186.95, while 200 days put it at $170.51. A total of 1.59 million shares were traded, compared to the trading of 1.68 million shares in the previous session.

Levels Of Support And Resistance For COR Stock

The 24-hour chart illustrates a support level at 173.76, which if violated will result in even more drops to 172.56. On the upside, there is a resistance level at 176.62. A further resistance level may holdings at 178.28. The Relative Strength Index (RSI) on the 14-day chart is 28.88, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.78%. Stochastics %K at 7.50% indicates the stock is a buying.

How much short interest is there in Cencora Inc.?

A steep rise in short interest was recorded in Cencora Inc. stocks on Aug 14, 2023, growing by 3.21 million shares to a total of 7.02 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.81 million shares. There was a rise of 45.73%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.37% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.04.

Cencora Inc. [COR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 20,280,273 shares, or roughly 10.02% of the outstanding COR shares. In other words, the investor’s shares have fallen by -111,442 from its previous 13-F filing of 20391715.0. Additionally, T. Rowe Price Associates, Inc. increased 7.59% of its stake after which the total value it holdings stand at $2,019,116,024, while BlackRock Fund Advisors added 5.02% of its stake to hold $1.74 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 317,207 shares of Cencora Inc., while JPMorgan Investment Management, I bought -100,975 shares. At present, Boston Partners Global Investors, is holding 4,968,844 shares valued at $928.68 million. Geode Capital Management LLC owned 3,493,715 shares of the company at the time of its most recent 13F filing, worth $652.98 million.

According to FactSet, Cencora Inc.’s share price will average $209.57 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.76 percent from its previous closing price of $175.98. Analysts expect Cencora Inc. stock to reach the higher price of $225.00, while the lowest price estimate is $190.00. However, 17 analysts have rated COR stock as an Overweight in their predictions for 2023.


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