In a recent transaction, Elizabeth S. Campbell, Executive Vice President of Cencora, Inc. (NYSE:COR), sold 6,977 shares of the company's common stock. The sale was conducted at a price of $238.12 per share, resulting in a total value of $1,661,363. This transaction took place on March 18, 2024, as reported in a Form 4 document filed with the Securities and Exchange Commission.
The transaction was carried out under a pre-arranged trading plan set up by Campbell on December 15, 2023, in accordance with Rule 10b5-1. This rule allows company insiders to set up a trading plan for selling stocks they own, providing them with an affirmative defense against charges of insider trading. The plan enables them to sell their holdings even if they have access to private information at the time of the sale.
Following the sale, Campbell still retains 8,246.42 shares of Cencora, Inc., indicating a continued investment in the company's future. The transaction reflects a notable change in the executive's holdings, yet it is not uncommon for executives to sell portions of their stock for various personal financial strategies.
Investors often keep an eye on insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, these transactions are not always indicative of a company's operational health and can be influenced by an individual's financial planning needs.
Cencora, Inc., with its headquarters in Conshohocken, Pennsylvania, operates in the wholesale drug distribution industry and is known for supplying drugs, proprietary products, and sundries. The company, formerly known as AmerisourceBergen (NYSE:COR) Corp., continues to be a significant player in its sector.
Shareholders and potential investors in Cencora, Inc. can access more details regarding insider transactions on the SEC's EDGAR database, where Form 4 filings are publicly available.
InvestingPro Insights
Amidst the insider transaction by Executive Vice President Elizabeth S. Campbell, Cencora, Inc. (NYSE:COR) remains a key company to watch in the wholesale drug distribution industry. With real-time data from InvestingPro, here are some metrics that may be of interest to investors considering the company's future performance.
The company boasts a market capitalization of $48.19 billion, reflecting its significant presence in the healthcare sector. Despite a challenging gross profit margin of 3.37% over the last twelve months as of Q1 2024, Cencora has demonstrated a solid revenue growth of 12.31% during the same period. Investors may find comfort in the company’s ability to maintain a dividend, having raised it for 19 consecutive years, a testament to its financial resilience and commitment to shareholder returns. This is further supported by the fact that Cencora has maintained dividend payments for 24 consecutive years.
InvestingPro Tips highlight that Cencora has been actively managing its share count, with management aggressively buying back shares. This could be a signal of the company's belief in its intrinsic value and a positive indicator for investors. Additionally, the fact that 7 analysts have revised their earnings upwards for the upcoming period suggests a favorable outlook on the company's profitability.
For those interested in a deeper dive into Cencora's financials and strategic positioning, InvestingPro offers additional insights. There are currently 21 more InvestingPro Tips available, which could help investors make more informed decisions. To access these tips and more detailed analyses, visit https://www.investing.com/pro/COR and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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