Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High - What's Next?

Key Points

• Concentra shares reached a new 52-week high of $40.64, up 1.3%, with the stock’s market capitalization reaching approximately $5.17 billion.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $41.29; several firms recently raised their targets to between $40 and $43.
• The company exceeded quarterly expectations, reporting $0.52 in EPS versus $0.42 expected and $606.03 million in revenue, up 10% year over year. Concentra also pays a quarterly dividend of $0.0625 per share, while a director recently sold 130,000 shares under a pre-arranged trading plan.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) shares reached a new 52-week high on Wednesday. The stock traded as high as $40.64 and last traded at $40.3350, with a volume of 218,664 shares trading hands. The stock had previously closed at $40.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted 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 research note on Thursday, September 10th. 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. William Blair initiated coverage on Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an "outperform" rating on the stock. Truist Financial upped their target price on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Finally, 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 research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Concentra Group Holdings Parent currently has a consensus rating of "Buy" and an average price target of $41.29.

Concentra Group Holdings Parent Stock Up 1.3%

The firm has a 50 day simple moving average of $35.98 and a two-hundred day simple moving average of $28.17. 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 stock has a market cap of $5.17 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63.

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, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $606.03 million during the quarter, compared to analyst estimates of $591.75 million. Concentra Group Holdings Parent had a return on equity of 47.81% and a net margin of 8.69%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The company 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 was Thursday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%. Concentra Group Holdings Parent's payout ratio is currently 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert Ortenzio sold 130,000 shares of the company's stock in a transaction that occurred 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. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of Concentra Group Holdings Parent by 70.3% in the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the company's stock valued at $30,000 after buying an additional 417 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Concentra Group Holdings Parent during the second quarter worth about $38,000. Nykredit A S acquired a new position in Concentra Group Holdings Parent in the second quarter valued at about $60,000. Public Employees Retirement System of Ohio acquired a new position in Concentra Group Holdings Parent in the second quarter valued at about $64,000. Finally, Farther Finance Advisors LLC grew its stake in Concentra Group Holdings Parent by 17.4% in the third quarter. Farther Finance Advisors LLC now owns 2,316 shares of the company's stock valued at $80,000 after acquiring an additional 343 shares during the period.

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 primarily serves employers, workers and insurers through a nationwide network of medical centers and employer-based clinics.

Concentra's services include workplace injury care, workers' compensation treatment, physical examinations, drug and alcohol testing, vaccinations, physical therapy, urgent care and other occupational medicine programs.

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