ModivCare (NASDAQ:MODV) Price Target Raised to $25.00

ModivCare (NASDAQ:MODV - Free Report) had its price objective raised by Barrington Research from $22.00 to $25.00 in a report published on Friday,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

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

ModivCare Stock Performance

MODV traded down $2.45 during mid-day trading on Friday, reaching $15.55. The stock had a trading volume of 326,185 shares, compared to its average volume of 258,718. The firm's fifty day simple moving average is $17.82 and its two-hundred day simple moving average is $22.81. ModivCare has a 52 week low of $11.00 and a 52 week 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.

ModivCare (NASDAQ:MODV - Get Free Report) last announced its quarterly earnings data 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 18.50% and a negative net margin of 6.57%. The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $701.00 million. During the same quarter in the previous year, the business earned $1.41 earnings per share. ModivCare's revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts forecast that ModivCare will post 1.06 earnings per share for the current year.

Insider Activity at ModivCare

In other news, major shareholder Q Global Capital Management, L purchased 20,556 shares of ModivCare stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $14.65 per share, with a total value of $301,145.40. Following the completion of the transaction, the insider now directly owns 1,520,394 shares in the company, valued at $22,273,772.10. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 189,514 shares of company stock worth $2,906,726. 22.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ModivCare

Several institutional investors and hedge funds have recently modified their holdings of MODV. Nisa Investment Advisors LLC raised its holdings in ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company's stock worth $32,000 after buying an additional 1,215 shares during the period. Canada Pension Plan Investment Board bought a new stake in ModivCare in the 2nd quarter valued at $60,000. State Board of Administration of Florida Retirement System acquired a new position in ModivCare in the 1st quarter worth $91,000. SG Americas Securities LLC acquired a new position in ModivCare in the 3rd quarter worth $102,000. Finally, Quest Partners LLC increased its holdings in ModivCare by 49.9% during the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company's stock worth $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.