Concentra Group Holdings Parent (NYSE:CON) Sets New 1-Year High – Still a Buy?

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

Wall Street Analyst Weigh In

CON has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Stephens began coverage on shares of Concentra Group Holdings Parent in a research note on Tuesday, October 20th. They set an “overweight” rating and a $45.00 target price on the stock. 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. Wells Fargo & Company increased their price objective on shares of Concentra Group Holdings Parent from $28.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada raised 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. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, Concentra Group Holdings Parent has a consensus rating of “Buy” and an average target price of $41.29.

Concentra Group Holdings Parent Trading Up 0.1%

The firm’s 50-day simple moving average is $36.22 and its 200 day simple moving average is $28.38. The firm has a market cap of $5.26 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22.

Concentra Group Holdings Parent (NYSE:CON) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.52 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 the consensus estimate of $591.75 million. Concentra Group Holdings Parent had a net margin of 8.69% and a return on equity of 47.81%. Concentra Group Holdings Parent’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. As a group, 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. Shareholders of record on Thursday, August 20th were given a dividend of $0.0625 per share. 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 payout ratio is presently 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In other news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 503,455 shares of the company’s stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Concentra Group Holdings Parent by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after buying an additional 144,379 shares during the last quarter. Principal Financial Group Inc. lifted its position in Concentra Group Holdings Parent by 1.6% during the first quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock valued at $57,238,000 after purchasing an additional 41,891 shares during the last quarter. 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. HBK Investments L P lifted 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 valued at $31,077,000 after acquiring an additional 181,864 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Concentra Group Holdings Parent in the 2nd quarter valued at about $13,285,000.

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 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.