ModivCare's (MODV) Outperform Rating Reiterated at Barrington Research

ModivCare (NASDAQ:MODV - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Barrington Research in a research report issued on Monday,Benzinga reports. They currently have a $25.00 price target on the stock. Barrington Research's target price suggests a potential upside of 60.67% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group decreased their price objective on 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 reduced their price objective on shares of ModivCare from $50.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, September 17th.

ModivCare Price Performance

Shares of ModivCare stock traded down $0.71 on Monday, reaching $15.56. 188,819 shares of the stock were exchanged, compared to its average volume of 257,041. ModivCare has a one year low of $11.00 and a one year high of $52.33. The firm's 50 day moving average is $15.80 and its 200-day moving average is $22.46. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $222.20 million, a PE ratio of -1.21, a P/E/G ratio of 2.53 and a beta of 0.47.

ModivCare (NASDAQ:MODV - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to the consensus estimate of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. ModivCare's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 earnings per share. As a group, analysts anticipate that ModivCare will post 0.64 EPS for the current fiscal year.

Insider Activity

In other ModivCare news, major shareholder Q Global Capital Management, L bought 20,556 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average price of $14.65 per share, for a total transaction of $301,145.40. Following the completion of the acquisition, the insider now directly owns 1,520,394 shares in the company, valued at $22,273,772.10. The trade was a 1.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 247,705 shares of company stock valued at $3,903,538. Corporate insiders own 22.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in ModivCare by 5,522.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company's stock valued at $32,000 after acquiring an additional 1,215 shares in the last quarter. FMR LLC increased its holdings in ModivCare by 227.5% in the 3rd quarter. FMR LLC now owns 3,825 shares of the company's stock worth $55,000 after buying an additional 2,657 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in ModivCare in the 2nd quarter worth approximately $60,000. State Board of Administration of Florida Retirement System purchased a new stake in ModivCare during the first quarter valued at $91,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ModivCare during the 3rd quarter valued at about $102,000.

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.