Concentra Group Holdings Parent (NYSE:CON) Reaches New 52-Week High - Here's Why

Key Points

• Concentra Group Holdings Parent shares reached a new 52-week high, trading as high as $35.92 and closing near $35.74, well above its 50-day and 200-day moving averages.
• Analyst sentiment is strongly positive: JPMorgan, Truist, and Wells Fargo raised their price targets, while the consensus rating remains “Buy” with an average target of $39.40.
• The company exceeded quarterly expectations, reporting $0.52 in EPS versus $0.42 estimated and $606.03 million in revenue, up 10% year over year; it also pays a quarterly dividend equivalent to a 0.7% yield.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $35.92 and last traded at $35.7440, with a volume of 67172 shares changing hands. The stock had previously closed at $34.95.

Analyst Upgrades and Downgrades

CON has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday. Weiss Ratings upgraded Concentra Group Holdings Parent from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 4th. Truist Financial raised their price target on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Wells Fargo & Company boosted their price objective 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. Finally, Zacks Research raised Concentra Group Holdings Parent from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $39.40.

Concentra Group Holdings Parent Stock Performance

The business has a 50-day moving average of $33.05 and a two-hundred day moving average of $27.50. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $4.51 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.27 and a beta of 0.63.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last posted its quarterly earnings data 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 return on equity of 47.81% and a net margin of 8.69%.The firm had revenue of $606.03 million during the quarter, compared to analysts' expectations of $591.75 million. During the same quarter last year, the firm earned $0.37 EPS. The business's quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

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

Insider Activity at Concentra Group Holdings Parent

In other news, Director Robert Ortenzio sold 130,000 shares of the business's stock in a transaction on 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 sale, the director directly owned 503,455 shares of the company's stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company's stock.

Institutional Trading of Concentra Group Holdings Parent

Several large investors have recently added to or reduced their stakes in CON. Allworth Financial LP grew its position in shares of Concentra Group Holdings Parent by 70.3% during the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the company's stock valued at $30,000 after acquiring an additional 417 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Concentra Group Holdings Parent by 1.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,308 shares of the company's stock worth $537,000 after purchasing an additional 500 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Concentra Group Holdings Parent by 32.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,118 shares of the company's stock worth $42,000 after purchasing an additional 514 shares during the period. Gamco Investors INC. ET AL boosted its position in Concentra Group Holdings Parent by 1.9% during the first quarter. Gamco Investors INC. ET AL now owns 29,256 shares of the company's stock worth $628,000 after purchasing an additional 536 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Concentra Group Holdings Parent by 124.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock worth $25,000 after purchasing an additional 663 shares in the last quarter.

Concentra Group Holdings Parent Company Profile

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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