Walgreens Boots Alliance has sold its shares of
Cencora Inc (NYSE: COR), contributing to changes in the company's stock market position. The net proceeds from the sale amount to approximately $1.1 billion. Several other entities, including
QRG Capital Management Inc., Kingswood Wealth Advisors LLC, and Cetera Advisors LLC, have also invested heavily in Cencora. Following the release of their Q3 earnings, Cencora announced that their profits exceeded estimates and raised their 2024 projection. Despite these positive outcomes, there has been a decline in Cencora's stock value, attributed to the company's underperformance compared to the healthcare sector and less so to external influences like Walgreens' moving its shares.
Cencora's Q3 earnings have beaten both revenue and EPS predictions. However, a data breach reported in February resulting in stolen personal and medical data has further scrutinized the company. Despite this, the company's fiscal 2024 earnings guidance has been released and they have demonstrated ability to manage debt responsibly. Nevertheless, insiders have disposed of stock raising bearish signals.
Cencora COR News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sun, 11 Aug 2024 13:27:16 GMT -
Rating 4
- Innovation 3
- Information 7
- Rumor -2
