Concentra Group Holdings Parent (NYSE:CON) Sets New 52-Week High – What’s Next?

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) reached a new 52-week high on Thursday. The company 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CON shares. Royal Bank Of Canada raised 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. Truist Financial upped their price target on shares of Concentra Group Holdings Parent from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 10th. JPMorgan Chase & Co. upped 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 began coverage on shares of Concentra Group Holdings Parent in a research report on Tuesday. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $41.29.

Concentra Group Holdings Parent Stock Down 1.5%

The company has a 50-day simple moving average of $35.78 and a 200 day simple moving average of $30.44. The company has a market cap of $5.02 billion, a P/E ratio of 25.39, a P/E/G ratio of 1.45 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) last released its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $606.03 million for 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 business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The business 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 dividend payout ratio (DPR) is presently 16.13%.

Insiders Place Their Bets

In other Concentra Group Holdings Parent news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Concentra Group Holdings Parent

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of Concentra Group Holdings Parent by 195.8% during the first 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 during the period. Ancora Advisors LLC purchased a new stake in Concentra Group Holdings Parent in the second quarter worth about $13,285,000. Janus Henderson Group PLC lifted its stake 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 during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Concentra Group Holdings Parent in the third quarter worth about $7,951,000. Finally, HBK Investments L P grew its holdings in Concentra Group Holdings Parent by 21.1% during the 2nd quarter. HBK Investments L P now owns 1,044,614 shares of the company’s stock worth $31,077,000 after acquiring an additional 181,864 shares in the last quarter.

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.