Barrington Research Lowers ModivCare (NASDAQ:MODV) Price Target to $19.00

ModivCare (NASDAQ:MODV) had its target price reduced by stock analysts at Barrington Research from $35.00 to $19.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price objective indicates a potential upside of 40.74% from the company’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group lowered their price objective 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 reduced their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday.

ModivCare Trading Up 0.3 %

MODV opened at $13.50 on Tuesday. The company’s 50 day moving average is $24.55 and its 200-day moving average is $25.53. ModivCare has a 1-year low of $11.00 and a 1-year high of $52.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The company has a market cap of $191.85 million, a P/E ratio of -0.86, a PEG ratio of 1.02 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The business had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 EPS. Equities research analysts predict that ModivCare will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in ModivCare by 83.2% in the 2nd 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 period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of ModivCare by 0.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock valued at $17,939,000 after buying an additional 5,644 shares during the period. Renaissance Technologies LLC increased its position in shares of ModivCare by 11.7% during the second quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock valued at $7,985,000 after buying an additional 31,800 shares during the period. AYAL Capital Advisors Ltd increased its position in shares of ModivCare by 42.1% during the second quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock valued at $6,899,000 after buying an additional 77,930 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ModivCare by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock valued at $8,679,000 after buying an additional 17,220 shares during the period.

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.