Cencora, Inc. (NYSE:COR) executive vice president Gina Clark recently sold 1,874 shares of company stock, according to the latest SEC filing. The transaction, dated May 31, 2024, was executed at an average price of $223.856 per share, resulting in a total value of $419,506.
The sale has adjusted Clark’s holdings in the wholesale drug company to a total of 13,284 shares following the transaction. This move by the executive at Cencora, which operates under the SIC code for Wholesale-Drugs Proprietaries & Druggists' Sundries, is part of the regular financial disclosures that corporate insiders make as part of their company stock transactions.
Cencora, Inc., previously known as AmerisourceBergen (NYSE:COR) Corp before its name change in 2001, is incorporated in Delaware and has its business headquarters in Conshohocken, Pennsylvania. The company's fiscal year ends in September, and it continues to be a significant player in the drug distribution industry.
Investors often keep a close watch on insider transactions as they can provide insights into an executive's view of the company's future prospects. However, these transactions can be subject to various personal financial considerations and should not be interpreted as a straightforward indicator of a company's performance.
The sale was formally documented by Elizabeth S. Campbell, attorney-in-fact for Gina Clark, on June 3, 2024, as per the records filed with the SEC.
InvestingPro Insights
Following the recent insider sale at Cencora, Inc., a deeper look into the company's financial health and market performance using InvestingPro data can provide investors with additional context. Cencora's current market capitalization stands at a robust $45.39 billion, reflecting the company's significant presence in the drug distribution industry. Despite concerns over insider sales, Cencora has demonstrated a strong track record of returning value to shareholders, as evidenced by its impressive streak of raising dividends for 19 consecutive years, a testament to its financial stability and commitment to shareholder returns.
However, the company's P/E ratio is currently at 24.9, which is considered high relative to near-term earnings growth, indicating that the stock might be priced optimistically given its earnings outlook. This is further highlighted by the fact that 11 analysts have revised their earnings estimates downwards for the upcoming period. Moreover, Cencora's gross profit margin over the last twelve months stands at 3.4%, which could be a point of concern as it suggests the company operates with thinner margins compared to some of its peers. Nevertheless, Cencora's ability to maintain dividend payments for 24 consecutive years underscores its financial resilience and prudent management.
Investors interested in a more comprehensive analysis of Cencora, Inc. can access additional InvestingPro Tips, including insights into the company's low revenue valuation multiple and its position as a prominent player in the Healthcare Providers & Services industry. For those looking to delve deeper, InvestingPro provides an extensive array of metrics and expert analysis, with additional tips available at: https://www.investing.com/pro/COR. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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