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

Key Points

• Concentra Group Holdings Parent reached a new 52-week high, trading as high as $36.83 and closing around $36.37, with a market capitalization of approximately $4.63 billion.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating, with price targets raised by several firms and a consensus target of $39.40.
• The company exceeded quarterly expectations, reporting $0.52 in EPS versus the $0.42 estimate and $606.03 million in revenue, up 10% year over year; it also pays a $0.25 annualized dividend yielding about 0.7%.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday. The company traded as high as $36.83 and last traded at $36.37, with a volume of 37068 shares trading hands. The stock had previously closed at $36.21.

Analyst Upgrades and Downgrades

CON has been the topic of a number of research reports. 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 lifted their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Wells Fargo & Company boosted their target price 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. Truist Financial upped 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. Finally, William Blair assumed coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, Concentra Group Holdings Parent has an average rating of "Buy" and an average price target of $39.40.

Concentra Group Holdings Parent Trading Up 0.4%

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 business has a 50 day moving average price of $34.28 and a 200-day moving average price of $28.88. The firm has a market capitalization of $4.63 billion, a PE ratio of 23.47, a P/E/G ratio of 1.30 and a beta of 0.63.

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 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 company had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. During the same quarter last year, the company earned $0.37 earnings per share. Concentra Group Holdings Parent's quarterly revenue was up 10.0% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. Concentra Group Holdings Parent's payout ratio is currently 16.13%.

Insiders Place Their Bets

In other Concentra Group Holdings Parent 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 transaction, the director directly owned 503,455 shares of the company's stock, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several institutional investors have recently modified their holdings of CON. HBK Investments L P grew its holdings in shares of Concentra Group Holdings Parent by 21.1% in the 2nd quarter. HBK Investments L P now owns 1,044,614 shares of the company's stock worth $31,077,000 after acquiring an additional 181,864 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Concentra Group Holdings Parent during the second quarter worth $233,000. Integrated Wealth Concepts LLC purchased a new stake in Concentra Group Holdings Parent during the second quarter worth $38,000. Allworth Financial LP boosted its position in Concentra Group Holdings Parent by 70.3% during the second quarter. Allworth Financial LP now owns 1,010 shares of the company's stock worth $30,000 after purchasing an additional 417 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Concentra Group Holdings Parent in the second quarter valued at $60,000.

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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