ModivCare (NASDAQ:MODV) Announces Earnings Results, Beats Estimates By $0.19 EPS

ModivCare (NASDAQ:MODV - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.19, Zacks reports. The business had revenue of $702.80 million during the quarter, compared to analyst estimates of $703.30 million. ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%.

ModivCare Stock Down 7.6 %

Shares of MODV traded down $0.21 during midday trading on Monday, reaching $2.54. 659,513 shares of the stock were exchanged, compared to its average volume of 334,035. The company has a market capitalization of $36.31 million, a P/E ratio of -0.20, a PEG ratio of 3.46 and a beta of 0.59. The company's 50 day moving average is $6.32 and its two-hundred day moving average is $13.66. 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 52 week low of $2.33 and a 52 week high of $33.64.

Insider Buying and Selling at ModivCare

In other news, major shareholder Q Global Capital Management, L purchased 3,837 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average price of $12.61 per share, for a total transaction of $48,384.57. Following the completion of the transaction, the insider now owns 1,970,935 shares in the company, valued at $24,853,490.35. This represents a 0.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Catalyst Fund Lp Ai acquired 187,500 shares of the firm's stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $4.03 per share, for a total transaction of $755,625.00. Following the completion of the acquisition, the insider now owns 1,942,500 shares of the company's stock, valued at approximately $7,828,275. This represents a 10.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 378,837 shares of company stock worth $1,529,635 over the last quarter. Insiders own 1.20% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have recently commented on MODV shares. Lake Street Capital lowered their target price on ModivCare from $30.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Barrington Research dropped their price target on shares of ModivCare from $10.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Stephens dropped their target price on shares of ModivCare from $7.00 to $3.50 and set an "equal weight" rating on the stock in a report on Monday.

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.