Concentra Group Holdings Parent (NYSE:CON) Reaches New 1-Year High – Here’s Why

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CON shares. William Blair started coverage on shares of Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They issued an “outperform” rating for the company. Zacks Research upgraded shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Truist Financial upped their price target on shares of 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 increased their price objective on Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada lifted their price objective on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $39.40.

Concentra Group Holdings Parent Stock Performance

The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22. The stock has a market cap of $4.65 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.63. The firm’s 50-day moving average is $34.45 and its two-hundred day moving average is $29.08.

Concentra Group Holdings Parent (NYSE:CON) last posted its earnings results on Thursday, August 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate 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 company had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were issued a $0.0625 dividend. The ex-dividend date 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 dividend 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 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 transaction, the director directly owned 503,455 shares of the company’s stock, valued at $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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.

Institutional Trading of Concentra Group Holdings Parent

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake 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 worth $30,000 after acquiring an additional 417 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Concentra Group Holdings Parent in the 2nd quarter valued at approximately $38,000. Nykredit A S acquired a new stake in Concentra Group Holdings Parent in the 2nd quarter worth approximately $60,000. Public Employees Retirement System of Ohio acquired a new stake in Concentra Group Holdings Parent in the 2nd quarter worth approximately $64,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Concentra Group Holdings Parent during the second quarter worth approximately $232,000.

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.