Concentra Group Holdings Parent (NYSE:CON) Hits New 1-Year High - Here's What Happened

Key Points

• Concentra shares reached a new 52-week high of $37.68, up 1.2% from the previous close, with the company valued at approximately $4.8 billion.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $39.40; several firms recently raised their targets to between $40 and $43.
• The company exceeded quarterly expectations, reporting $0.52 in earnings per share and $606.03 million in revenue, representing 10% year-over-year growth. Concentra also declared a quarterly dividend of $0.0625 per share.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday. The company traded as high as $37.68 and last traded at $37.2820, with a volume of 27,854 shares changing hands. The stock had previously closed at $37.19.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CON shares. Wells Fargo & Company lifted their price target on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Weiss Ratings raised Concentra Group Holdings Parent from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, September 10th. Truist Financial raised their price objective on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, William Blair initiated coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $39.40.

Concentra Group Holdings Parent Stock Up 1.2%

The business's 50 day simple moving average is $34.66 and its 200-day simple moving average is $29.29. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.35 and a beta of 0.63.

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, topping analysts' consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. The business had revenue of $606.03 million for the quarter, compared to the consensus estimate of $591.75 million. During the same period in the prior year, the business posted $0.37 earnings per share. Concentra Group Holdings Parent's revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 earnings per share for the current year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were paid 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 0.7%. Concentra Group Holdings Parent's dividend payout ratio is 16.13%.

Insider Buying and Selling at Concentra Group Holdings Parent

In related news, Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

Institutional Investors Weigh In On Concentra Group Holdings Parent

A number of large investors have recently bought and sold shares of the business. Ancora Advisors LLC raised its stake in shares of Concentra Group Holdings Parent by 10.8% in the 2nd quarter. Ancora Advisors LLC now owns 446,550 shares of the company's stock valued at $13,285,000 after acquiring an additional 43,410 shares in the last quarter. HBK Investments L P boosted its position in Concentra Group Holdings Parent by 21.1% during the second quarter. HBK Investments L P now owns 1,044,614 shares of the company's stock worth $31,077,000 after purchasing an additional 181,864 shares during the period. Louisiana State Employees Retirement System bought a new stake in Concentra Group Holdings Parent during the first quarter worth approximately $1,135,000. Brant Point Investment Management LLC bought a new stake in Concentra Group Holdings Parent during the fourth quarter worth approximately $5,235,000. Finally, Sei Investments Co. grew its holdings in Concentra Group Holdings Parent by 51.4% during the first quarter. Sei Investments Co. now owns 172,210 shares of the company's stock valued at $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 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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