ModivCare (NASDAQ:MODV) PT Raised to $22.00 at Barrington Research

ModivCare (NASDAQ:MODV) had its price objective increased by Barrington Research from $19.00 to $22.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

MODV has been the subject of several other research reports. Lake Street Capital dropped their price target on ModivCare from $50.00 to $30.00 and set a buy rating for the company in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their target price on ModivCare from $25.00 to $14.00 and set a hold rating for the company in a research report on Friday, September 13th.

ModivCare Stock Up 0.8 %

Shares of NASDAQ MODV opened at $16.94 on Thursday. The business has a 50-day moving average of $21.82 and a 200-day moving average of $24.04. The firm has a market capitalization of $241.23 million, a price-to-earnings ratio of -1.08, a PEG ratio of 2.29 and a beta of 0.49. 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 $11.00 and a 12 month high of $52.33.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings results 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 positive return on equity of 27.52% and a negative net margin of 5.80%. The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same period in the previous year, the company earned $1.41 EPS. ModivCare’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts expect that ModivCare will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in ModivCare by 5,522.7% in the 2nd 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 period. Canada Pension Plan Investment Board bought a new stake in ModivCare during the 2nd quarter valued at $60,000. State Board of Administration of Florida Retirement System purchased a new stake in ModivCare during the 1st quarter valued at $91,000. Central Pacific Bank Trust Division purchased a new stake in ModivCare during the 1st quarter valued at $100,000. Finally, SG Americas Securities LLC bought a new stake in ModivCare in the 3rd quarter worth $102,000.

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.