Concentra Group Holdings Parent (NYSE:CON) Hits New 1-Year High – Should You Buy?

Concentra Group Holdings Parent, Inc. (NYSE:CON) hit a new 52-week high during trading on Monday. The company traded as high as $37.68 and last traded at $37.2820, with a volume of 27,854 shares traded. The stock had previously closed at $37.19.

Analyst Ratings Changes

CON has been the subject of a number of analyst reports. Truist Financial boosted their price target on 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. Zacks Research upgraded shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research note 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 note on Tuesday, August 11th. Royal Bank Of Canada raised their target price on shares of Concentra Group Holdings Parent from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Concentra Group Holdings Parent from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $39.40.

Concentra Group Holdings Parent Stock Performance

The stock has a fifty day simple moving average of $34.91 and a two-hundred day simple moving average of $29.51. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.37 and a beta of 0.63. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $591.75 million. During the same quarter last year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 EPS for the current fiscal year.

Concentra Group Holdings Parent Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Thursday, August 20th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.7%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is 16.13%.

Insider Transactions at Concentra Group Holdings Parent

In other Concentra Group Holdings Parent news, Director Robert Ortenzio sold 130,000 shares of Concentra Group Holdings Parent 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 transaction, the director owned 503,455 shares in the company, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 8.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CON. Allworth Financial LP increased its holdings in shares of Concentra Group Holdings Parent by 70.3% during the second quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock worth $30,000 after buying 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 $38,000. Nykredit A S bought a new position in shares of Concentra Group Holdings Parent in the 2nd quarter valued at $60,000. Public Employees Retirement System of Ohio bought a new position in shares of Concentra Group Holdings Parent in the 2nd quarter valued at $64,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Concentra Group Holdings Parent by 17.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,316 shares of the company’s stock valued at $80,000 after acquiring an additional 343 shares in the last quarter.

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 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.