Concentra Group Holdings Parent (NYSE:CON) Stock Moved Up to Strong-Buy by Jefferies Financial Group

Key Points

• Jefferies upgraded Concentra Group Holdings Parent to “strong buy,” adding to broadly positive analyst sentiment. The stock has an average “Buy” rating and an average price target of $40.67.
• Shares fell 1.5% to $38.57 but remain near their 52-week high of $39.60, with the 50-day and 200-day moving averages at $35.31 and $29.81, respectively.
• Concentra reported quarterly adjusted earnings of $0.52 per share, beating estimates by $0.10, while revenue rose 10% year over year to $606.03 million. Its occupational-health and urgent-care businesses generated a 47.81% return on equity and an 8.69% net margin.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) was upgraded by research analysts at Jefferies Financial Group to a "strong-buy" rating in a research note issued on Friday, Zacks reports.

A number of other analysts also recently issued reports on CON. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an "outperform" rating on the stock. Royal Bank Of Canada boosted their price objective on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, September 10th. Finally, Zacks Research raised shares of Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $40.67.

Concentra Group Holdings Parent Stock Down 1.5%

Shares of NYSE:CON traded down $0.58 during mid-day trading on Friday, reaching $38.57. 1,303,041 shares of the stock were exchanged, compared to its average volume of 1,230,610. The stock's 50 day simple moving average is $35.31 and its 200-day simple moving average is $29.81. Concentra Group Holdings Parent has a one year low of $18.55 and a one year high of $39.60. The company has a market cap of $4.92 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.42 and a beta of 0.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.52 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $606.03 million for the quarter, compared to analysts' expectations of $591.75 million. During the same quarter in the previous year, the business posted $0.37 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Concentra Group Holdings Parent will post 1.65 EPS for the current year.

Insider Transactions at Concentra Group Holdings Parent

In related news, Director Robert Ortenzio sold 130,000 shares of the firm'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 directly owned 503,455 shares in the company, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Concentra Group Holdings Parent by 70.3% in the second quarter. Allworth Financial LP now owns 1,010 shares of the company's stock valued at $30,000 after buying an additional 417 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Concentra Group Holdings Parent during the 2nd quarter worth approximately $38,000. Nykredit A S acquired a new position in shares of Concentra Group Holdings Parent during the 2nd quarter worth approximately $60,000. Public Employees Retirement System of Ohio acquired a new position in shares of Concentra Group Holdings Parent during the 2nd quarter worth approximately $64,000. Finally, Farther Finance Advisors LLC raised its stake in Concentra Group Holdings Parent by 17.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,316 shares of the company's stock valued at $80,000 after acquiring an additional 343 shares during the period.

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 helps employers manage workplace health needs, including injury care, workers' compensation services, physical examinations, drug and alcohol testing, immunizations, and other employee health programs.

Concentra also operates urgent care centers that provide treatment for non-life-threatening illnesses and injuries. Its services may include occupational medicine, urgent care, physical therapy, physical rehabilitation, and related employer-focused health services.

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