Key Points
- Director Robert Ortenzio sold 130,000 CON shares for approximately $4.14 million at an average price of $31.84 under a pre-arranged Rule 10b5-1 trading plan. His remaining direct ownership fell 20.52% to 503,455 shares.
- Concentra reported quarterly earnings of $0.40 per share, exceeding estimates of $0.35, while revenue reached $569.55 million, up 13.7% year over year and above analyst expectations.
- Analyst sentiment remains positive, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $31.40 average price target; Truist recently raised its target to $37.
Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) Director Robert Ortenzio sold 130,000 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 503,455 shares of the company's stock, valued at $16,030,007.20. This represents a 20.52% decrease in their ownership of the stock. 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.
Concentra Group Holdings Parent Stock Performance
Shares of Concentra Group Holdings Parent stock opened at $30.64 on Thursday. The company has a market cap of $3.92 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.62. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent, Inc. has a 52 week low of $18.55 and a 52 week high of $32.86. The business has a 50 day moving average price of $29.52 and a 200-day moving average price of $25.29.
Concentra Group Holdings Parent (NYSE:CON - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.05. The business had revenue of $569.55 million during the quarter, compared to analyst estimates of $553.53 million. Concentra Group Holdings Parent had a return on equity of 47.14% and a net margin of 7.97%.Concentra Group Holdings Parent's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Equities analysts anticipate that Concentra Group Holdings Parent, Inc. will post 1.52 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CON. Norges Bank purchased a new stake in shares of Concentra Group Holdings Parent during the 4th quarter valued at $43,404,000. Woodline Partners LP boosted its holdings in shares of Concentra Group Holdings Parent by 142.7% in the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company's stock worth $57,484,000 after buying an additional 1,614,988 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Concentra Group Holdings Parent by 195.8% in the 1st 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. The Manufacturers Life Insurance Company grew its position in Concentra Group Holdings Parent by 38.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,577,610 shares of the company's stock valued at $31,047,000 after buying an additional 436,212 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Concentra Group Holdings Parent by 48.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,329,498 shares of the company's stock valued at $28,850,000 after buying an additional 434,503 shares during the period.
Analyst Upgrades and Downgrades
CON has been the subject of several analyst reports. William Blair began coverage on shares of Concentra Group Holdings Parent in a report on Wednesday, July 1st. They issued an "outperform" rating for the company. Weiss Ratings raised shares of Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Truist Financial increased their price objective on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group initiated coverage on shares of Concentra Group Holdings Parent in a research report on Friday, June 5th. They set a "buy" rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.40.
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About Concentra Group Holdings Parent
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Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.
In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.
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