Concentra Group Holdings Parent, Inc. (NYSE:CON) Stock Has Consensus Price Target of $40.67 According to Analysts

Key Points

• Analyst sentiment is strongly positive: All nine analysts covering Concentra Group Holdings Parent rate it Buy or Strong Buy, with a consensus 12-month price target of $40.67.
• Recent financial results exceeded expectations: The company reported quarterly EPS of $0.52 versus the $0.42 estimate, while revenue rose 10% year over year to $606.03 million.
• The stock has gained significant momentum: CON opened at $38.57, near its 52-week high of $39.60, compared with a 52-week low of $18.55; it also pays a $0.25 annualized dividend yielding about 0.6%.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) has been assigned an average recommendation of "Buy" from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $40.67.

CON has been the subject of a number of recent analyst reports. 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 report on Thursday, September 10th. Royal Bank Of Canada lifted their price target on 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 Concentra Group Holdings Parent from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Wells Fargo & Company increased their price objective on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Finally, William Blair initiated coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an "outperform" rating for the company.

Concentra Group Holdings Parent Price Performance

NYSE CON opened at $38.57 on Friday. 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 fifty day simple moving average of $35.31 and a 200 day simple moving average of $29.81. The company has a market cap of $4.92 billion, a P/E ratio of 24.88, a P/E/G ratio of 1.40 and a beta of 0.63. Concentra Group Holdings Parent has a 1 year low of $18.55 and a 1 year high of $39.60.

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

Concentra Group Holdings Parent Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were issued a dividend of $0.0625 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.6%. Concentra Group Holdings Parent's payout ratio is presently 16.13%.

Insider Activity at Concentra Group Holdings Parent

In related news, Director Robert Ortenzio sold 130,000 shares of the 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 in the company, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company's stock valued at $66,645,000 after buying an additional 144,379 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Concentra Group Holdings Parent by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company's stock valued at $57,238,000 after acquiring an additional 41,891 shares in the last quarter. Jennison Associates LLC increased its stake in Concentra Group Holdings Parent by 195.8% in the first quarter. Jennison Associates LLC now owns 2,172,291 shares of the company's stock valued at $46,596,000 after acquiring an additional 1,437,912 shares during the period. HBK Investments L P increased its stake in Concentra Group Holdings Parent by 21.1% in the second 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 during the period. Finally, Ancora Advisors LLC bought a new stake in Concentra Group Holdings Parent in the second quarter valued at about $13,285,000.

About Concentra Group Holdings Parent

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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