Concentra Group Holdings Parent, Inc. (NYSE:CON) Stock Has Average Price Target of $40.67

Shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) have earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $40.67.

A number of brokerages recently weighed in on CON. Wells Fargo & Company raised their price target on shares of Concentra Group Holdings Parent from $28.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Zacks Research raised Concentra Group Holdings Parent from a “hold” rating to a “strong-buy” rating in a report on Monday, August 31st. Jefferies Financial Group began coverage on Concentra Group Holdings Parent in a research report on Friday. They issued a “buy” rating and a $47.00 price objective on the stock. Royal Bank Of Canada lifted 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. Finally, Truist Financial lifted their target price 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.

Insider Transactions at Concentra Group Holdings Parent

In related 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 completion of the sale, the director directly owned 503,455 shares in the company, valued at $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after purchasing an additional 144,379 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Concentra Group Holdings Parent by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 2,668,512 shares of the company’s stock worth $57,238,000 after buying an additional 41,891 shares during the period. Jennison Associates LLC raised 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 worth $46,596,000 after buying an additional 1,437,912 shares during the last quarter. HBK Investments L P raised its stake in shares of 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 buying an additional 181,864 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Concentra Group Holdings Parent during the second quarter worth approximately $13,285,000.

Concentra Group Holdings Parent Trading Down 1.5%

Shares of NYSE CON opened at $38.57 on Friday. Concentra Group Holdings Parent has a 1-year low of $18.55 and a 1-year high of $39.60. The company has a market cap of $4.92 billion, a PE ratio of 24.88, a P/E/G ratio of 1.40 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. The company has a 50-day moving average of $35.31 and a two-hundred day moving average of $29.81.

Concentra Group Holdings Parent (NYSE:CON) last announced its earnings results 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 net margin of 8.69% and a return on equity of 47.81%. The company had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same period in the prior year, the business earned $0.37 earnings per share. Concentra Group Holdings Parent’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Concentra Group Holdings Parent 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. Stockholders of record on Thursday, August 20th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Concentra Group Holdings Parent’s dividend payout ratio is 16.13%.

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 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.