Lake Street Capital Trims ModivCare (NASDAQ:MODV) Target Price to $30.00

ModivCare (NASDAQ:MODV) had its price objective decreased by Lake Street Capital from $50.00 to $30.00 in a research note released on Tuesday, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Barrington Research raised shares of ModivCare from a market perform rating to an outperform rating and set a $35.00 price target on the stock in a research report on Friday, August 9th. Jefferies Financial Group dropped their target price on shares of ModivCare from $25.00 to $14.00 and set a hold rating on the stock in a report on Friday, September 13th.

ModivCare Trading Down 5.9 %

ModivCare stock opened at $12.71 on Tuesday. ModivCare has a one year low of $11.00 and a one year high of $52.33. The company’s fifty day moving average price is $24.33 and its two-hundred day moving average price is $25.45. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $180.62 million, a price-to-earnings ratio of -0.82, a PEG ratio of 1.02 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The company had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the company posted $1.41 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, analysts forecast that ModivCare will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Several hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its stake in ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after purchasing an additional 381,995 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of ModivCare by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after purchasing an additional 5,644 shares during the period. Renaissance Technologies LLC raised its position in shares of ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after buying an additional 31,800 shares during the last quarter. AYAL Capital Advisors Ltd lifted its stake in shares of ModivCare by 42.1% in 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 period. Finally, Charles Schwab Investment Management Inc. grew its position in ModivCare by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock worth $8,679,000 after buying an additional 17,220 shares in the last quarter.

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.