ModivCare (NASDAQ:MODV) Receives “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of ModivCare (NASDAQ:MODV) in a research note issued to investors on Friday,Benzinga reports. Stephens currently has a $17.00 target price on the stock, down from their prior target price of $21.00.

A number of other research firms have also recently commented on MODV. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of ModivCare in a research report on Monday, November 18th. Jefferies Financial Group cut their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, Lake Street Capital decreased their target price on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.20.

ModivCare Trading Down 47.5 %

Shares of NASDAQ:MODV opened at $6.56 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare has a 12-month low of $6.51 and a 12-month high of $52.33. The business has a 50 day moving average of $15.07 and a two-hundred day moving average of $19.17. The company has a market capitalization of $93.70 million, a PE ratio of -0.51, a PEG ratio of 2.77 and a beta of 0.60.

ModivCare (NASDAQ:MODV) last posted its earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $702.04 million during the quarter, compared to analyst estimates of $711.28 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, analysts forecast that ModivCare will post 0.64 EPS for the current year.

Insider Transactions at ModivCare

In other ModivCare news, major shareholder Q Global Capital Management, L purchased 20,556 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $14.65 per share, for a total transaction of $301,145.40. Following the completion of the transaction, the insider now owns 1,520,394 shares of the company’s stock, valued at $22,273,772.10. The trade was a 1.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 307,242 shares of company stock valued at $4,894,217 over the last ninety days. Insiders own 22.10% of the company’s stock.

Institutional Trading of ModivCare

A number of hedge funds have recently bought and sold shares of MODV. HG Vora Capital Management LLC purchased a new stake in shares of ModivCare in the third quarter valued at approximately $17,136,000. Millennium Management LLC grew its holdings in ModivCare by 83.2% in the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after buying an additional 381,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of ModivCare by 0.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after acquiring an additional 5,644 shares during the last quarter. State Street Corp raised its holdings in shares of ModivCare by 1.5% during the 3rd quarter. State Street Corp now owns 349,750 shares of the company’s stock worth $4,994,000 after acquiring an additional 5,115 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after acquiring an additional 31,800 shares during 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.