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

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $35.92 and last traded at $35.7440, with a volume of 67172 shares trading hands. The stock had previously closed at $34.95.

Analysts Set New Price Targets

Several equities research analysts recently commented on CON shares. Royal Bank Of Canada boosted their price target 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. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Weiss Ratings upgraded shares of Concentra Group Holdings Parent from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Truist Financial raised 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 research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $39.40.

Concentra Group Holdings Parent Stock Performance

The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.27 and a beta of 0.63. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a fifty day moving average of $33.05 and a 200 day moving average of $27.50.

Concentra Group Holdings Parent (NYSE:CON) last issued its earnings results on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $606.03 million during the quarter, compared to analysts’ expectations of $591.75 million. During the same period in the prior year, the business earned $0.37 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current year.

Concentra Group Holdings Parent Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 20th. 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 transaction, 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 position. The transaction 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. 8.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Concentra Group Holdings Parent by 124.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after acquiring an additional 663 shares during the period. Allworth Financial LP raised its position in Concentra Group Holdings Parent by 70.3% in the second quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock valued at $30,000 after purchasing an additional 417 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Concentra Group Holdings Parent by 2,784.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company’s stock valued at $30,000 after purchasing an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Concentra Group Holdings Parent by 49.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company’s stock valued at $34,000 after purchasing an additional 528 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Concentra Group Holdings Parent during the 4th quarter worth $35,000.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc is a U.S. health care company that operates one of the country’s largest networks of occupational health centers. Through its Concentra brand, the company provides medical services to employers and employees, with an emphasis on workplace injury care, occupational medicine and convenient access to non-emergency treatment.

Its services include treatment for work-related injuries and illnesses, physical examinations, drug and alcohol screening, workers’ compensation care, vaccinations, health and wellness programs, and regulatory examinations such as Department of Transportation physicals.