Microvast Holdings announces departure of chief financial officer
Cencora, Inc. (NYSE:COR) Executive Chairman Steven H. Collis has sold a significant portion of his holdings in the company, according to a recent SEC filing. On March 25, Collis sold a total of 14,578 shares of Cencora common stock at an average price of $269.51 per share. The sale, which amounted to approximately $3.9 million, was conducted under a Rule 10b5-1 trading plan adopted in November 2024. The transaction comes as Cencora, currently valued at $52.7 billion, trades near its 52-week high with a strong YTD return of ~20%. InvestingPro analysis reveals the company maintains a GOOD overall financial health score.
In addition to the stock sale, Collis exercised options to acquire 12,578 shares of Cencora stock at a price of $86.09 per share, totaling about $1.08 million. Following these transactions, Collis holds 317,912.665 shares of the company directly.
These transactions reflect Collis’s ongoing management of his equity stake in Cencora, a leading player in the wholesale drugs and druggists’ sundries sector.
In other recent news, Cencora, Inc. has announced an upward revision of its fiscal year 2025 adjusted earnings per share (EPS) guidance following the acquisition of Retina Consultants of America. The acquisition, finalized for $4.4 billion, grants Cencora an 85% stake in the retina specialist group and is expected to enhance its specialty medical services. Consequently, Cencora now anticipates an adjusted diluted EPS ranging from $15.15 to $15.45, up from the previous estimate of $14.80 to $15.10. Additionally, Leerink Partners has raised its price target for Cencora to $301, maintaining an Outperform rating, reflecting confidence in the company’s robust pharmaceutical distribution segment and U.S. Healthcare EBIT growth.
Furthermore, at Cencora’s recent Annual Meeting, shareholders approved the executive compensation package and elected all nominated board members. The ratification of Ernst & Young LLP as the independent registered public accounting firm for 2025 was also confirmed. In another development, Cencora disclosed the upcoming retirements of board members Richard W. Gochnauer and Kathleen W. Hyle, with plans for their departure at the next Annual Meeting. The company has not yet announced successors or changes to committee assignments following these retirements. These developments indicate Cencora’s strategic moves to bolster its market position and governance structure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.