Isthmus Partners LLC Buys New Position in Concentra Group Holdings Parent, Inc. $CON

Isthmus Partners LLC bought a new stake in shares of Concentra Group Holdings Parent, Inc. (NYSE:CON) in the third quarter, Holdings Channel.com reports. The fund bought 78,996 shares of the company’s stock, valued at approximately $2,719,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Concentra Group Holdings Parent by 70.3% in the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the company’s stock worth $30,000 after purchasing an additional 417 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Concentra Group Holdings Parent during the second quarter worth $38,000. Nykredit A S acquired a new stake in shares of Concentra Group Holdings Parent during the second quarter worth $60,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Concentra Group Holdings Parent during the second quarter worth $64,000. Finally, Farther Finance Advisors LLC raised its stake in Concentra Group Holdings Parent by 17.4% during the third quarter. Farther Finance Advisors LLC now owns 2,316 shares of the company’s stock worth $80,000 after buying an additional 343 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CON. William Blair started coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price target on Concentra Group Holdings Parent from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Truist Financial lifted their price objective on Concentra Group Holdings Parent from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wells Fargo & Company lifted their price objective on 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. Finally, Jefferies Financial Group started coverage on Concentra Group Holdings Parent in a research note on Friday, October 16th. They issued a “buy” rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $41.29.

Concentra Group Holdings Parent Trading Up 2.2%

NYSE:CON opened at $39.96 on Friday. 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 stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.42 and a beta of 0.63. The firm has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $30.37. Concentra Group Holdings Parent, Inc. has a 12 month low of $18.55 and a 12 month high of $40.00.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $606.03 million for the quarter, compared to analyst estimates of $591.75 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 20th were paid a $0.0625 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.6%. Concentra Group Holdings Parent’s dividend payout ratio (DPR) is currently 16.13%.

Insider Buying and Selling

In related news, Director Robert Ortenzio sold 130,000 shares of the business’s 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 of the company’s stock, valued at $16,030,007.20. The trade was a 20.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.

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.