Concentra's Post-IPO Trading Levels Based On 'Its Dominant Market Position,' Says Analyst
Concentra's Post-IPO Trading Levels Based On 'Its Dominant Market Position,' Says Analyst
Concentra Group Holdings Inc (NYSE:CON) priced in July its initial public offering of 22.5 million shares at $23.50 per share.
Concentra Group Holdings Inc（纽交所：CON）在7月以每股23.50美元的价格定价其250万股的首次公开发行。
RBC Capital Markets initiated coverage of Concentra, citing a "differentiated operating and reimbursement model with strong growth."
加拿大皇家银行资本市场为Concentra开展了覆盖，并称赞其具有“不同寻常的经营和报销模型以及强劲的增长”。
RBC Capital analyst Ben Hendrix wrote Concentra offers a unique investment strategy with minimal exposure to regulatory and payor negotiation challenges faced by other providers, as its revenue mainly comes from employers and workers compensation rather than government or managed care reimbursements.
加拿大皇家银行资本市场分析师本·亨德里克斯写道，Concentra提供了一种独特的投资策略，几乎没有面临其它服务提供商面临的监管和付款谈判挑战，因其收入主要来自雇主和工人赔偿，而不是政府或管理护理报销。
"We see upside to Concentra's post-IPO trading levels based on the company's dominant market position as the country's leading occupational healthcare provider," RBC Capital noted.
加拿大皇家银行资本市场指出：“我们看到了Concentra在首次公开发行后的交易水平有望上升，这是基于该公司作为全国领先的职业医疗保健服务提供商的卓越市场地位。”
The analyst initiated with an Outperform rating and a price target of $33.
该分析师以跑赢大盘为评级调出启动，并给出33美元的目标价。
Also Read: Concentra's High-Quality Business Model Attracts Analyst Attention, Initiates With Buy Rating.
另请参阅：Concentra的高质量商业模式吸引了分析师的注意，以买入评级启动。
Since the IPO, Concentra's trading performance has closely mirrored that of its parent company, Select Medical Holdings Corp.'s subsidiary (NYSE:SEM).
自IPO以来，Concentra的交易表现与其母公司Select Medical Holdings Corp.（纽交所：SEM）的子公司密切呼应。
RBC Capital wrote that this valuation is too low for an independent entity with stronger profit margins and a more favorable reimbursement profile than Medicare-reimbursed post-acute care providers.
加拿大皇家银行资本市场称，对于利润率更高且具有比医保补偿的后期护理服务提供商更有利的报销结构的独立实体来说，这一估值过低。
Although Concentra lacks direct public peers, RBC Capital analyst sees high-margin outpatient operators focused on musculoskeletal cases, such as Surgery Partners Inc (NASDAQ:SGRY) and U.S. Physical Therapy Inc (NYSE:USPH), as suitable comparisons.
虽然Concentra缺乏直接的公共同行，但加拿大皇家银行资本市场分析师认为，以肌肉骨骼病例为重点的高利润门诊操作者，如Surgery Partners Inc（纳斯达克：SGRY）和U.S. Physical Therapy Inc（纽交所：USPH），是合适的对比。
Given Concentra's more favorable reimbursement structure, the analyst expects its valuation to approach the 14.0x target as management executes its expansion plans and taps into a robust pipeline of growth opportunities.
鉴于Concentra更有利的报销结构，分析师预计，在管理层执行其扩张计划并利用庞大的增长机会管道的情况下，其估值将接近14.0倍目标。
Concentra provides occupational and consumer health services and other direct-to-employer care to more than 50,000 patients each day on average from 547 occupational health centers in 41 states and 154 onsite health clinics.
Concentra每天平均为来自41个州的547个职业健康中心和154个现场卫生诊所的超过50,000名患者提供职业和消费者健康服务以及其他直接面向雇主的护理服务。
The company has 11,000 employees.
该公司拥有11,000名员工。
CON Price Action: Concentra Group Holdings stock is down 0.73% at $23.18 at publication Tuesday.
CON股票价格行动：Concentra Group Holdings股票周二出版时下跌0.73％至23.18美元。
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