Barrington Research Trims ModivCare (NASDAQ:MODV) Target Price to $19.00

ModivCare (NASDAQ:MODV) had its price target reduced by Barrington Research from $35.00 to $19.00 in a research note published on Tuesday, Benzinga reports. Barrington Research currently has an outperform rating on the stock. Barrington Research also issued estimates for ModivCare’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $0.25 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.78 EPS, FY2025 earnings at $2.22 EPS and FY2026 earnings at $3.91 EPS.

A number of other analysts have also recently issued reports on MODV. Lake Street Capital dropped their price objective on ModivCare from $50.00 to $30.00 and set a buy rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their price target on ModivCare from $25.00 to $14.00 and set a hold rating on the stock in a research report on Friday, September 13th.

ModivCare Price Performance

Shares of NASDAQ:MODV opened at $11.91 on Tuesday. The company has a 50-day moving average price of $24.08 and a two-hundred day moving average price of $25.36. ModivCare has a twelve month low of $11.00 and a twelve month 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 firm has a market capitalization of $169.60 million, a PE ratio of -0.76, a P/E/G ratio of 1.42 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last issued its earnings results 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 negative net margin of 5.80% and a positive return on equity of 27.52%. The business had revenue of $698.30 million for the quarter, compared to the consensus estimate of $701.00 million. During the same period in the previous year, the firm earned $1.41 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that ModivCare will post 1.24 EPS for the current year.

Institutional Investors Weigh In On ModivCare

Large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System bought a new position in ModivCare in the 1st quarter worth about $91,000. Price T Rowe Associates Inc. MD grew its holdings in shares of ModivCare by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock worth $481,000 after purchasing an additional 608 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of ModivCare by 5,522.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after purchasing an additional 1,215 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ModivCare by 9.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock valued at $8,679,000 after purchasing an additional 17,220 shares in the last quarter. Finally, Quest Partners LLC raised its stake in ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares in 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.