Concentra Group Holdings Parent (NYSE:CON) Now Covered by Stephens

Key Points

• Stephens initiated coverage of Concentra Group Holdings Parent with an “overweight” rating and a $45 price target, implying approximately 17.8% upside from the stock’s $38.20 opening price.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a consensus price target of $41.29, with recent bullish ratings or target increases from Jefferies, JPMorgan, Truist and others.
• Concentra reported stronger-than-expected quarterly results, with adjusted earnings of $0.52 per share and revenue of $606.03 million, up 10% year over year.

Equities researchers at Stephens started coverage on shares of Concentra Group Holdings Parent (NYSE:CON - Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set an "overweight" rating and a $45.00 price target on the stock. Stephens' price target indicates a potential upside of 17.81% from the company's current price.

Several other equities analysts have also weighed in on the stock. Weiss Ratings raised shares of Concentra Group Holdings Parent from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Jefferies Financial Group started coverage on shares of Concentra Group Holdings Parent in a report on Friday. They set a "buy" rating and a $47.00 target price for the company. Zacks Research raised shares of Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a report on Monday, August 31st. JPMorgan Chase & Co. upped their price target on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. Finally, Truist Financial increased their price target on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a "buy" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $41.29.

Concentra Group Holdings Parent Stock Performance

Shares of NYSE CON opened at $38.20 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.87 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.40 and a beta of 0.63. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $39.60. The stock has a 50 day moving average of $35.39 and a 200-day moving average of $29.99.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%. The business had revenue of $606.03 million for the quarter, compared to analysts' expectations of $591.75 million. During the same quarter in the prior year, the business earned $0.37 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that Concentra Group Holdings Parent will post 1.65 EPS for the current year.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert Ortenzio sold 130,000 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $31.84, for a total value of $4,139,200.00. Following the completion of the sale, the director owned 503,455 shares of the company's stock, valued at approximately $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of hedge funds have recently bought and sold shares of the business. HBK Investments L P raised its holdings in Concentra Group Holdings Parent by 21.1% in the 2nd quarter. HBK Investments L P now owns 1,044,614 shares of the company's stock valued at $31,077,000 after acquiring an additional 181,864 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Concentra Group Holdings Parent by 10.8% during the 2nd quarter. Ancora Advisors LLC now owns 446,550 shares of the company's stock worth $13,285,000 after purchasing an additional 43,410 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Concentra Group Holdings Parent during the 1st quarter worth $1,135,000. Sei Investments Co. grew its holdings in shares of Concentra Group Holdings Parent by 51.4% during the 1st quarter. Sei Investments Co. now owns 172,210 shares of the company's stock worth $3,694,000 after purchasing an additional 58,444 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Concentra Group Holdings Parent in the fourth quarter worth $848,000.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is the parent company of Concentra, a provider of occupational health services in the United States. The company primarily serves employers, workers and insurers through a nationwide network of medical centers and employer-based clinics.

Concentra's services include workplace injury care, workers' compensation treatment, physical examinations, drug and alcohol testing, vaccinations, physical therapy, urgent care and other occupational medicine programs.

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