Concentra Group Holdings Parent (NYSE:CON) Sets New 52-Week High – Still a Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $39.62 and last traded at $39.56, with a volume of 316,770 shares. The stock had previously closed at $39.09.

Analysts Set New Price Targets

CON has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Royal Bank Of Canada boosted their target price on Concentra Group Holdings Parent from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Stephens began coverage on Concentra Group Holdings Parent in a research report on Tuesday. They issued an “overweight” rating and a $45.00 target price for the company. Jefferies Financial Group initiated coverage on Concentra Group Holdings Parent in a research note on Friday, October 16th. They issued a “buy” rating and a $47.00 target price for the company. 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 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $41.29.

Concentra Group Holdings Parent Stock Performance

The company 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 business’s 50-day moving average is $35.60 and its 200 day moving average is $30.24. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.38 and a current ratio of 1.38.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.52 earnings per share 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 business 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 firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Concentra Group Holdings Parent’s payout ratio 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 dated Monday, August 3rd. The stock was 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. The trade was a 20.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Concentra Group Holdings Parent by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock worth $66,645,000 after acquiring an additional 144,379 shares during the last quarter. Principal Financial Group Inc. increased its stake in Concentra Group Holdings Parent by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock worth $57,238,000 after purchasing an additional 41,891 shares during the period. Jennison Associates LLC increased its stake in Concentra Group Holdings Parent by 195.8% in the 1st quarter. Jennison Associates LLC now owns 2,172,291 shares of the company’s stock worth $46,596,000 after purchasing an additional 1,437,912 shares during the period. HBK Investments L P lifted its position 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 purchasing an additional 181,864 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in Concentra Group Holdings Parent in the second quarter valued at approximately $13,285,000.

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.