Barrington Research Has Lowered Expectations for ModivCare (NASDAQ:MODV) Stock Price

ModivCare (NASDAQ:MODV - Free Report) had its price objective reduced by Barrington Research from $25.00 to $10.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also commented on MODV. Lake Street Capital cut their price target on shares of ModivCare from $30.00 to $10.00 and set a "buy" rating on the stock in a report on Monday. Stephens restated an "equal weight" rating and set a $17.00 price objective (down from $21.00) on shares of ModivCare in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.20.

ModivCare Stock Performance

Shares of MODV traded down $0.72 during midday trading on Tuesday, reaching $5.93. 1,176,618 shares of the stock were exchanged, compared to its average volume of 801,884. ModivCare has a twelve month low of $5.55 and a twelve month high of $52.33. The company has a market cap of $84.70 million, a P/E ratio of -0.46, a PEG ratio of 2.77 and a beta of 0.60. The stock's 50 day simple moving average is $14.67 and its 200 day simple moving average is $18.81. 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 released its earnings results on Wednesday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $702.04 million for the quarter, compared to analyst estimates of $711.28 million. ModivCare had a positive return on equity of 26.14% and a negative net margin of 6.57%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. On average, sell-side analysts expect that ModivCare will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other ModivCare news, major shareholder Q Global Capital Management, L bought 20,556 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was purchased at an average cost of $14.65 per share, with a total value of $301,145.40. Following the transaction, the insider now directly owns 1,520,394 shares in the company, valued at $22,273,772.10. This trade represents a 1.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 311,079 shares of company stock valued at $4,942,602 in the last three months. 22.10% of the stock is currently owned by insiders.

Institutional Trading of ModivCare

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its stake in shares of 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 during the last quarter. American Century Companies Inc. lifted its position in shares of ModivCare by 9.5% during the 2nd quarter. American Century Companies Inc. now owns 19,916 shares of the company's stock valued at $523,000 after buying an additional 1,726 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in ModivCare in the 2nd quarter worth about $60,000. FMR LLC lifted its holdings in ModivCare by 227.5% during the third quarter. FMR LLC now owns 3,825 shares of the company's stock valued at $55,000 after purchasing an additional 2,657 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of ModivCare in the third quarter worth about $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.