Lake Street Capital upgraded shares of ModivCare (NASDAQ:MODV – Free Report) from a hold rating to a buy rating in a report published on Monday morning, MarketBeat Ratings reports. The firm currently has $50.00 price objective on the stock.
A number of other analysts also recently issued reports on the stock. Jefferies Financial Group downgraded shares of ModivCare from a buy rating to a hold rating and cut their price target for the stock from $60.00 to $39.00 in a report on Friday, February 23rd. Barrington Research cut ModivCare from an outperform rating to a market perform rating in a research note on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded ModivCare from a buy rating to a hold rating and reduced their target price for the company from $60.00 to $40.00 in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $49.25.
View Our Latest Stock Report on MODV
ModivCare Stock Performance
ModivCare (NASDAQ:MODV – Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.05. ModivCare had a negative net margin of 8.02% and a positive return on equity of 34.93%. The firm had revenue of $703.22 million for the quarter, compared to analysts’ expectations of $699.34 million. On average, research analysts anticipate that ModivCare will post 4.15 earnings per share for the current year.
Hedge Funds Weigh In On ModivCare
Several large investors have recently made changes to their positions in MODV. SummerHaven Investment Management LLC increased its holdings in ModivCare by 2.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 13,745 shares of the company’s stock valued at $605,000 after purchasing an additional 281 shares during the last quarter. Swiss National Bank boosted its position in shares of ModivCare by 1.8% during the third quarter. Swiss National Bank now owns 28,000 shares of the company’s stock worth $882,000 after buying an additional 500 shares during the period. Signaturefd LLC grew its stake in shares of ModivCare by 388.6% in the third quarter. Signaturefd LLC now owns 816 shares of the company’s stock valued at $26,000 after buying an additional 649 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ModivCare by 27.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock valued at $153,000 after buying an additional 1,043 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of ModivCare by 134.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the company’s stock valued at $63,000 after buying an additional 1,156 shares during the period.
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.
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