ModivCare’s (MODV) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of ModivCare (NASDAQ:MODV) in a report issued on Monday,Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other brokerages have also recently issued reports on MODV. Lake Street Capital decreased their price objective on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Jefferies Financial Group reduced their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th.

ModivCare Stock Performance

Shares of NASDAQ:MODV opened at $15.56 on Monday. The business’s 50 day simple moving average is $15.80 and its 200 day simple moving average is $22.46. ModivCare has a 1 year low of $11.00 and a 1 year high of $52.33. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

ModivCare (NASDAQ:MODV) last posted its quarterly 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). The company 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. On average, sell-side analysts anticipate that ModivCare will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ModivCare news, major shareholder Q Global Capital Management, L purchased 20,556 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was purchased at an average cost of $14.65 per share, for a total transaction of $301,145.40. Following the transaction, the insider now owns 1,520,394 shares in the company, valued at $22,273,772.10. The trade was a 1.37 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have bought 247,705 shares of company stock worth $3,903,538 in the last 90 days. Insiders own 22.10% of the company’s stock.

Institutional Trading of ModivCare

Several institutional investors have recently modified their holdings of MODV. HG Vora Capital Management LLC acquired a new position in shares of ModivCare in the 3rd quarter worth approximately $17,136,000. Millennium Management LLC boosted its position in ModivCare by 83.2% during the second quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock valued at $22,076,000 after acquiring an additional 381,995 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in ModivCare during the 2nd quarter worth about $3,345,000. AYAL Capital Advisors Ltd raised its position in shares of ModivCare by 42.1% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after acquiring an additional 77,930 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of ModivCare by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after purchasing an additional 31,800 shares during the period.

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.