Concentra Group Holdings Parent, Inc. (NYSE:CON) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Analysts are bullish on Concentra: Eight analysts give the stock a consensus “Buy” rating, with a $39.40 average 12-month price target versus its $34.90 opening price.
• Quarterly results exceeded expectations: Concentra reported $0.52 in EPS and $606.03 million in revenue, beating consensus estimates and marking 10% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.0625, equivalent to an annualized $0.25 payout and a 0.7% yield; meanwhile, director Robert Ortenzio sold 130,000 shares under a pre-arranged trading plan.

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) have been given an average rating of "Buy" by the eight analysts that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $39.40.

Several research firms have recently commented on CON. Zacks Research raised Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a report on Monday, August 31st. Royal Bank Of Canada raised their target price on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, August 10th. 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. Wells Fargo & Company lifted their target price on shares of Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company.

Concentra Group Holdings Parent Stock Up 0.4%

Shares of Concentra Group Holdings Parent stock opened at $34.90 on Wednesday. The business has a fifty day simple moving average of $33.62 and a 200 day simple moving average of $28.09. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $36.71. The stock has a market cap of $4.45 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 1.27 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 issued 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. The firm had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Research analysts predict that Concentra Group Holdings Parent will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 20th. Concentra Group Holdings Parent's dividend payout ratio is currently 16.13%.

Insider Buying and Selling at Concentra Group Holdings Parent

In related 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 transaction of $4,139,200.00. Following the transaction, the director directly owned 503,455 shares in the company, valued at approximately $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of large investors have recently made changes to their positions in CON. Fox Run Management L.L.C. purchased a new stake in shares of Concentra Group Holdings Parent in the 4th quarter valued at about $1,089,000. Norges Bank purchased a new position in shares of Concentra Group Holdings Parent in the 4th quarter valued at approximately $43,404,000. Louisiana State Employees Retirement System purchased a new position in shares of Concentra Group Holdings Parent during the first quarter valued at approximately $1,135,000. Brant Point Investment Management LLC bought a new stake in shares of Concentra Group Holdings Parent during the fourth quarter valued at approximately $5,235,000. Finally, Sei Investments Co. boosted its holdings in Concentra Group Holdings Parent by 51.4% in the first 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 during the last quarter.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent, Inc is a U.S. health care company that operates one of the country's largest networks of occupational health centers. Through its Concentra brand, the company provides medical services to employers and employees, with an emphasis on workplace injury care, occupational medicine and convenient access to non-emergency treatment.

Its services include treatment for work-related injuries and illnesses, physical examinations, drug and alcohol screening, workers' compensation care, vaccinations, health and wellness programs, and regulatory examinations such as Department of Transportation physicals.

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