Barrington Research Boosts ModivCare (NASDAQ:MODV) Price Target to $22.00

ModivCare (NASDAQ:MODV) had its target price boosted by Barrington Research from $19.00 to $22.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on MODV. Lake Street Capital lowered their price objective 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. Jefferies Financial Group dropped their price objective on ModivCare from $25.00 to $14.00 and set a hold rating for the company in a research note on Friday, September 13th.

ModivCare Price Performance

MODV stock opened at $16.94 on Thursday. ModivCare has a 52-week low of $11.00 and a 52-week high of $52.33. 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 stock has a market cap of $240.73 million, a price-to-earnings ratio of -1.08, a price-to-earnings-growth ratio of 1.82 and a beta of 0.49. The business has a fifty day moving average of $21.82 and a two-hundred day moving average of $24.07.

ModivCare (NASDAQ:MODV) 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). ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The business had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the previous year, the business posted $1.41 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts anticipate that ModivCare will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On ModivCare

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in shares of ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after acquiring an additional 1,215 shares during the period. Canada Pension Plan Investment Board purchased a new stake in ModivCare during the 2nd quarter worth about $60,000. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare in the 1st quarter valued at about $91,000. Central Pacific Bank Trust Division purchased a new position in shares of ModivCare in the 1st quarter valued at about $100,000. Finally, SG Americas Securities LLC acquired a new position in shares of ModivCare during the third quarter worth about $102,000.

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.