ModivCare (NASDAQ:MODV – Get Free Report) had its target price cut by equities researchers at Jefferies Financial Group from $25.00 to $14.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 1.82% from the stock’s previous close.
Separately, Barrington Research upgraded ModivCare from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Friday, August 9th.
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ModivCare Stock Performance
ModivCare (NASDAQ:MODV – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The company had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. Analysts forecast that ModivCare will post 1.72 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of ModivCare in the second quarter worth $581,000. Millennium Management LLC increased its holdings in shares of ModivCare by 83.2% in the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in ModivCare during the second quarter worth approximately $206,000. AQR Capital Management LLC grew its stake in shares of ModivCare by 16.0% during the second quarter. AQR Capital Management LLC now owns 40,444 shares of the company’s stock valued at $1,061,000 after buying an additional 5,592 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its stake in shares of ModivCare by 42.1% during the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after buying an additional 77,930 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.
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