Concentra Group Holdings Parent (NYSE:CON) Sets New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CON. Jefferies Financial Group initiated coverage on Concentra Group Holdings Parent in a research note on Friday, October 16th. They set a “buy” rating and a $47.00 target price for the company. William Blair initiated coverage on shares of Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating on the stock. Royal Bank Of Canada upped their price target 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. Zacks Research raised shares of Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 31st. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.29.

Concentra Group Holdings Parent Trading Up 1.3%

The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.17 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63. The business has a fifty day moving average price of $35.98 and a 200 day moving average price of $28.17.

Concentra Group Holdings Parent (NYSE:CON) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. During the same period last year, the company earned $0.37 earnings per share. Concentra Group Holdings Parent’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Concentra Group Holdings Parent, Inc. will post 1.65 earnings per share for the current fiscal year.

Concentra Group Holdings Parent Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend 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 is 16.13%.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert Ortenzio sold 130,000 shares of the business’s stock in a transaction on 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 sale, the director owned 503,455 shares of the company’s stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CON. HBK Investments L P raised its holdings in Concentra Group Holdings Parent by 21.1% during the second 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. Ancora Advisors LLC grew its stake in Concentra Group Holdings Parent by 10.8% in the second quarter. Ancora Advisors LLC now owns 446,550 shares of the company’s stock valued at $13,285,000 after purchasing an additional 43,410 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Concentra Group Holdings Parent in the first quarter valued at approximately $1,135,000. Sei Investments Co. grew its stake in Concentra Group Holdings Parent by 51.4% in the first quarter. Sei Investments Co. now owns 172,210 shares of the company’s stock valued at $3,694,000 after purchasing an additional 58,444 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Concentra Group Holdings Parent during the 4th quarter worth approximately $848,000.

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.