ModivCare (NASDAQ:MODV) Price Target Raised to $25.00

ModivCare (NASDAQ:MODV) had its price target increased by Barrington Research from $22.00 to $25.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group decreased their price target on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

ModivCare Price Performance

ModivCare stock opened at $15.55 on Friday. The stock’s 50 day moving average is $17.55 and its 200 day moving average is $22.75. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $221.43 million, a P/E ratio of -1.21, a P/E/G ratio of 2.02 and a beta of 0.47. ModivCare has a one year low of $11.00 and a one year high of $52.33.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The firm had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. During the same quarter last year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts expect that ModivCare will post 1.06 EPS for the current year.

Insider Buying and Selling at ModivCare

In related news, major shareholder Q Global Capital Management, L acquired 20,556 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were bought at an average price of $14.65 per share, with a total value of $301,145.40. Following the transaction, the insider now directly owns 1,520,394 shares of the company’s stock, valued at $22,273,772.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 189,514 shares of company stock valued at $2,906,726. Corporate insiders own 22.10% of the company’s stock.

Hedge Funds Weigh In On ModivCare

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of ModivCare by 5,522.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after buying an additional 1,215 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of ModivCare in the 2nd quarter worth about $60,000. State Board of Administration of Florida Retirement System bought a new position in ModivCare in the 1st quarter valued at about $91,000. SG Americas Securities LLC acquired a new position in ModivCare during the 3rd quarter valued at about $102,000. Finally, Quest Partners LLC raised its stake in shares of ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 shares during the last quarter.

ModivCare Company Profile

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.