Stock Traders Buy Large Volume of Call Options on Cencora (NYSE:COR)

Cencora, Inc. (NYSE:COR - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders bought 2,882 call options on the company. This is an increase of approximately 145% compared to the typical volume of 1,178 call options.

Cencora Stock Up 3.7 %

Shares of Cencora stock traded up $8.31 during trading on Tuesday, hitting $233.12. The company's stock had a trading volume of 3,259,927 shares, compared to its average volume of 1,424,394. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a fifty day simple moving average of $232.64 and a two-hundred day simple moving average of $231.18. The company has a market capitalization of $46.50 billion, a PE ratio of 24.60, a P/E/G ratio of 1.40 and a beta of 0.44. Cencora has a 52 week low of $182.75 and a 52 week high of $247.66.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. Equities research analysts predict that Cencora will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, August 9th. Cencora's dividend payout ratio (DPR) is 22.32%.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 10,948 shares of the company's stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the company's stock in a transaction 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 owns 10,948 shares of the company's stock, valued at approximately $2,656,970.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company's stock, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company's stock.

Institutional Trading of Cencora

Institutional investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC purchased a new stake in Cencora during the 2nd quarter valued at about $655,000. TD Asset Management Inc purchased a new stake in Cencora during the 1st quarter valued at about $95,313,000. LSV Asset Management purchased a new stake in Cencora during the 1st quarter valued at about $3,579,000. Cairn Investment Group Inc. purchased a new stake in Cencora during the 1st quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Cencora during the 1st quarter valued at about $836,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COR shares. Evercore ISI lowered their price target on shares of Cencora from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Bank of America restated a "neutral" rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $259.44.

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.