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Recent Insider Activity Suggests Potential Gains for Cencora Inc. (COR)

Cencora Inc.’s recent filing unveils that its Chairman, President & CEO COLLIS STEVEN H unloaded Company’s shares for reported $2.54 million on Jun 18 ’24. In the deal valued at $235.76 per share,10,754 shares were sold. As a result of this transaction, COLLIS STEVEN H now holds 285,088 shares worth roughly $67.47 million.

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Then, Clark Gina sold 1,874 shares, generating $419,506 in total proceeds. Upon selling the shares at $223.86, the Executive Vice President now owns 13,284 shares.

Before that, Clark Gina sold 27,093 shares. Cencora Inc. shares valued at $5,853,985 were divested by the Executive Vice President at a price of $216.07 per share. As a result of the transaction, Clark Gina now holds 15,158 shares, worth roughly $3.59 million.

Leerink Partners initiated its Cencora Inc. [COR] rating to an Outperform in a research note published on February 26, 2024; the price target was $261. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early January with a ‘”an Overweight”‘ rating. Wells Fargo began covering COR with “an Equal weight” recommendation on December 14, 2023. Citigroup started covering the stock on March 31, 2023. It rated COR as “a Buy”.

Price Performance Review of COR

On Friday, Cencora Inc. [NYSE:COR] saw its stock jump 0.42% to $236.68. Over the last five days, the stock has gained 1.92%. Cencora Inc. shares have risen nearly 15.24% since the year began. Nevertheless, the stocks have risen 27.36% over the past one year. While a 52-week high of $246.75 was reached on 04/03/24, a 52-week low of $171.65 was recorded on 01/02/24. SMA at 50 days reached $229.77, while 200 days put it at $214.97. A total of 5.37 million shares were traded, compared to the trading of 1.23 million shares in the previous session.

Levels Of Support And Resistance For COR Stock

The 24-hour chart illustrates a support level at 234.57, which if violated will result in even more drops to 232.46. On the upside, there is a resistance level at 238.61. A further resistance level may holdings at 240.54. The Relative Strength Index (RSI) on the 14-day chart is 62.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.85, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.76%. Stochastics %K at 89.65% indicates the stock is a selling.

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