Argent Capital Management LLC Acquires New Position in ModivCare Inc. (NASDAQ:MODV)

Argent Capital Management LLC bought a new position in shares of ModivCare Inc. (NASDAQ:MODV) during the first quarter, HoldingsChannel.com reports. The firm bought 3,385 shares of the company’s stock, valued at approximately $501,000.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of ModivCare in the first quarter worth $25,000. Versant Capital Management Inc bought a new stake in ModivCare during the first quarter valued at about $29,000. KBC Group NV purchased a new position in shares of ModivCare in the first quarter valued at about $50,000. Asset Dedication LLC bought a new position in shares of ModivCare in the first quarter worth about $53,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of ModivCare during the fourth quarter worth about $100,000.

NASDAQ MODV opened at $161.78 on Friday. The firm’s 50 day moving average price is $144.56. ModivCare Inc. has a one year low of $72.98 and a one year high of $184.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.16. The company has a market cap of $2.27 billion, a P/E ratio of 61.98, a P/E/G ratio of 2.48 and a beta of 0.62.

ModivCare (NASDAQ:MODV) last released its quarterly earnings results on Friday, May 7th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.32. ModivCare had a net margin of 2.63% and a return on equity of 28.10%. The company had revenue of $453.60 million for the quarter, compared to the consensus estimate of $483.06 million. The business’s revenue was up 23.5% on a year-over-year basis. On average, equities analysts expect that ModivCare Inc. will post 5.96 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of ModivCare from a “c+” rating to a “b” rating in a research report on Tuesday, May 18th. Barrington Research raised their price objective on ModivCare from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, May 10th. Finally, Zacks Investment Research downgraded ModivCare from a “hold” rating to a “sell” rating in a research report on Tuesday, March 9th.

About ModivCare

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. It offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.

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Institutional Ownership by Quarter for ModivCare (NASDAQ:MODV)

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