ModivCare’s (MODV) Equal Weight Rating Reiterated at Stephens

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

Several other analysts also recently weighed in on MODV. Jefferies Financial Group dropped their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Lake Street Capital dropped their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 target price on shares of ModivCare in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ModivCare presently has an average rating of “Hold” and a consensus target price of $25.20.

ModivCare Price Performance

NASDAQ:MODV opened at $6.56 on Friday. The company has a market capitalization of $93.70 million, a P/E ratio of -0.51, a P/E/G ratio of 2.77 and a beta of 0.60. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare has a 52 week low of $6.51 and a 52 week high of $52.33. The stock’s fifty day moving average is $15.07 and its two-hundred day moving average is $19.17.

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

Insider Transactions at ModivCare

In related news, major shareholder Q Global Capital Management, L bought 58,191 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost of $17.13 per share, with a total value of $996,811.83. Following the purchase, the insider now directly owns 1,812,725 shares of the company’s stock, valued at $31,051,979.25. This trade represents a 3.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have purchased 307,242 shares of company stock valued at $4,894,217. 22.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ModivCare

Several hedge funds and other institutional investors have recently made changes to their positions in MODV. Quest Partners LLC raised its holdings 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 acquiring an additional 1,332 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ModivCare by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock valued at $523,000 after purchasing an additional 1,726 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ModivCare during the 2nd quarter worth $60,000. FMR LLC grew its stake in shares of ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company’s stock worth $55,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in ModivCare in the third quarter valued at $43,000.

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.