ModivCare (NASDAQ:MODV) Given Outperform Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of ModivCare (NASDAQ:MODV) in a report published on Monday morning,Benzinga reports. They currently have a $25.00 price objective on the stock.

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

ModivCare Stock Up 6.8 %

Shares of NASDAQ MODV opened at $17.42 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The business’s 50 day moving average is $15.30 and its two-hundred day moving average is $22.30. ModivCare has a 52-week low of $11.00 and a 52-week high of $52.33. The firm has a market cap of $248.76 million, a price-to-earnings ratio of -1.35, a PEG ratio of 2.42 and a beta of 0.47.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The firm had revenue of $702.04 million during the quarter, compared to analysts’ expectations of $711.28 million. During the same quarter in the prior year, the firm posted $1.35 EPS. ModivCare’s quarterly revenue was up 2.2% compared to the same quarter last year. Research analysts predict that ModivCare will post 0.64 EPS for the current year.

Insider Transactions at ModivCare

In other news, major shareholder Q Global Capital Management, L bought 20,556 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average price of $14.65 per share, for a total transaction of $301,145.40. Following the completion of the purchase, the insider now owns 1,520,394 shares in the company, valued at approximately $22,273,772.10. This trade represents a 1.37 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders purchased 292,773 shares of company stock valued at $4,637,612. 22.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ModivCare

Institutional investors have recently bought and sold shares of the business. AYAL Capital Advisors Ltd increased its holdings in shares of ModivCare by 42.1% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after acquiring an additional 77,930 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in ModivCare in the second quarter valued at approximately $3,345,000. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare during the first quarter worth approximately $91,000. Price T Rowe Associates Inc. MD lifted its position in shares of ModivCare by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock worth $481,000 after buying an additional 608 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares during the last quarter.

About ModivCare

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.