Concentra Group Holdings Parent (NYSE:CON) Sets New 12-Month High - Here's What Happened

Key Points

• Concentra Group Holdings Parent shares reached a new 52-week high of $39.62 and were last trading at $39.56, up 2.2% from the prior close.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $41.29; recent targets range from $40 to $47.
• The company exceeded quarterly expectations, reporting $0.52 in EPS and $606.03 million in revenue, while revenue grew 10% year over year. Concentra also declared a quarterly dividend of $0.0625, equal to a 0.6% annualized yield.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday. The stock traded as high as $39.62 and last traded at $39.56, with a volume of 316,770 shares trading hands. The stock had previously closed at $39.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. JPMorgan Chase & Co. raised 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. Stephens started coverage on shares of Concentra Group Holdings Parent in a research report on Tuesday. They set an "overweight" rating and a $45.00 price target for the company. Wells Fargo & Company boosted their price target on shares of 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, Jefferies Financial Group began coverage on shares of Concentra Group Holdings Parent in a report on Friday, October 16th. They issued a "buy" rating and a $47.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to data from MarketBeat.com, Concentra Group Holdings Parent presently has a consensus rating of "Buy" and an average target price of $41.29.

Concentra Group Holdings Parent Trading Up 2.2%

The firm has a fifty day simple moving average of $35.60 and a two-hundred day simple moving average of $30.24. The stock has a market cap of $5.10 billion, a PE ratio of 25.78, a PEG ratio of 1.41 and a beta of 0.63. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $591.75 million. During the same quarter last year, the company posted $0.37 EPS. The company's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent's dividend payout ratio (DPR) 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 Concentra Group Holdings Parent stock in a transaction that occurred 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 completion of the sale, the director directly owned 503,455 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its position in shares of Concentra Group Holdings Parent by 195.8% during the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company's stock valued at $46,596,000 after buying an additional 1,437,912 shares in the last quarter. Ancora Advisors LLC purchased a new position in Concentra Group Holdings Parent in the second quarter worth $13,285,000. Janus Henderson Group PLC grew its position in Concentra Group Holdings Parent by 722.9% in the first quarter. Janus Henderson Group PLC now owns 419,772 shares of the company's stock worth $9,003,000 after acquiring an additional 368,761 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Concentra Group Holdings Parent in the third quarter worth $7,951,000. Finally, 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 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 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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