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CON · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Concentra Group Holdings Parent, Inc. (CON) stock moving?
Concentra reported a Q3 2026 beat on Nov 5, with adjusted EPS of $0.52 against a $0.44 estimate and sales of $622.1M against $605.5M. Management raised FY2026 sales guidance to $2.360B-$2.380B, and the board added a $250M buyback with no expiration. The stock jumped 8.5% on Nov 4 on about 2.7M shares, roughly twice the recent average, and closed at $43.56. It then faded, closing at $42.15 on Nov 5 after an intraday high of $44.22, and has held a $41.8-$43 range since, ending at $42.67 on Nov 10 on lighter volume. Analysts followed with higher targets: BofA $47, Deutsche Bank $50, Jefferies $50 (Buy) and Stephens $51 (Overweight), implying roughly 10-20% upside from the current price. A related-party 800,000-share repurchase at $41.80 announced Nov 10 gives the company a direct buyer for a block from a director. Leadership changed effective Nov 1, with DiCanio as CEO and Tanner Newton as CFO, which adds execution risk to the otherwise strong quarter.
News behind the analysis
- Concentra Group Holdings Parent, Inc. Reports Q3 2026 Financial ResultsQ3 2026 revenue came in at $622.1M and adjusted EPS at $0.52, both above analyst estimates.
- Concentra Group Holdings Q3 Adj. EPS $0.52 Beats $0.44 Estimate, Sales $622.122M Beat $605.499M EstimateAdjusted EPS beat the $0.44 consensus by about 18%, and sales beat the $605.5M estimate by about 3%.
- Concentra Group Holdings Raises FY2026 Sales Guidance from $2.325B-$2.375B to $2.360B-$2.380B vs $2.353B EstFull-year 2026 sales guidance was raised to $2.360B-$2.380B, with the low end above the prior range and the prior estimate.
- Concentra Authorizes New $250M Share Repurchase Program With No Expiration Date, Supplementing Existing Buyback ProgramThe board authorized a new $250M buyback with no expiration date, in addition to the existing program.
- Deutsche Bank and BofA Securities Adjust Price Targets for ConcentraDeutsche Bank raised its target to $50 from $41 and kept a Buy rating. BofA raised its target to $47 from $40.
- Concentra Group Holdings Q3 2026 Earnings Call TranscriptTranscript of the Q3 2026 earnings call, held on Friday, November 6, 2026.
- Jefferies Maintains Buy on Concentra Group Holdings, Raises Price Target to $50Jefferies reaffirmed its Buy rating and raised its price target from $47 to $50.
- Stephens & Co. Maintains Overweight on Concentra Group Holdings, Raises Price Target to $51Stephens & Co. kept its Overweight rating and set a $51 price target.
- Form 8-K: Stock Repurchase Agreement with Director-Affiliated StockholdersOn Nov 6 the company agreed to buy 800,000 shares from director Robert A. Ortenzio and related entities at $41.80 per share, a 1% discount to the Nov 6 close, for $33.44M.
- Form 8-K: Officer Change, Leadership Transition Effective Nov 1Matthew DiCanio became President and CEO, William K. Newton became Executive Chairman, and Tanner Newton became EVP and CFO, all effective Nov 1, 2026.
About Concentra Group Holdings Parent, Inc.
Concentra is the largest US provider of occupational health services by number of locations. It has about 628 stand-alone medical centers in 41 states and roughly 410 onsite clinics at employer workplaces (as of end-2025), and treats work-related injuries and does health checks for employers. Founded in 1979 and based in Addison, Texas, it went public in July 2024 when Select Medical spun it off.
How it makes money
Its occupational health centers bring in about 92–93% of revenue. The money comes mainly from treating workplace injuries, which workers' compensation insurers and employers pay for, and from services employers buy, such as drug and alcohol tests, physical exams and vaccinations. Onsite clinics at employer worksites add about 5–6%, and consumer health services add about 2%. Smaller businesses include telemedicine, pharmacy and drug-testing program administration.
What usually moves CON
- US employment levels and hiring activity
- Workers' compensation fee schedules and payer rates
- Patient visit volumes at its centers
- Acquisitions such as Nova Medical Centers and new center openings
- Labor costs for clinicians and staff
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