Executive VP & Chief Human Resources Officer Of Cencora Sold 47% Of Their Shares

Simply Wall St ·  Nov 19, 2023 07:18

We wouldn't blame Cencora, Inc. (NYSE:COR) shareholders if they were a little worried about the fact that Silvana Battaglia, the Executive VP & Chief Human Resources Officer recently netted about US$2.0m selling shares at an average price of US$196. That's a big disposal, and it decreased their holding size by 47%, which is notable but not too bad.

Check out our latest analysis for Cencora

The Last 12 Months Of Insider Transactions At Cencora

The Chairman, Steven Collis, made the biggest insider sale in the last 12 months. That single transaction was for US$5.5m worth of shares at a price of US$166 each. That means that an insider was selling shares at slightly below the current price (US$195). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. It is worth noting that this sale was only 11% of Steven Collis's holding.

Insiders in Cencora didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

NYSE:COR Insider Trading Volume November 19th 2023

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Insider Ownership Of Cencora

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. It's great to see that Cencora insiders own 0.4% of the company, worth about US$141m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Does This Data Suggest About Cencora Insiders?

An insider sold Cencora shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. But since Cencora is profitable and growing, we're not too worried by this. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Case in point: We've spotted 2 warning signs for Cencora you should be aware of.

But note: Cencora may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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