Lake Street Capital Lowers ModivCare (NASDAQ:MODV) Price Target to $30.00

ModivCare (NASDAQ:MODV) had its price objective decreased by Lake Street Capital from $50.00 to $30.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s target price points to a potential upside of 122.22% from the stock’s previous close.

MODV has been the topic of a number of other reports. Jefferies Financial Group reduced their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Barrington Research upgraded shares of ModivCare from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Friday, August 9th.

ModivCare Trading Up 0.3 %

MODV stock opened at $13.50 on Tuesday. 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 company’s 50-day simple moving average is $24.55 and its 200 day simple moving average is $25.53. ModivCare has a 52 week low of $11.00 and a 52 week high of $52.33. The company has a market capitalization of $191.85 million, a PE ratio of -0.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last announced 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 firm had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, sell-side analysts anticipate that ModivCare will post 1.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in ModivCare by 83.2% during the 2nd quarter. Millennium Management LLC now owns 841,295 shares of the company’s stock worth $22,076,000 after purchasing an additional 381,995 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of ModivCare by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 683,665 shares of the company’s stock worth $17,939,000 after buying an additional 5,644 shares during the period. Renaissance Technologies LLC grew its position in shares of ModivCare by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 304,299 shares of the company’s stock worth $7,985,000 after buying an additional 31,800 shares during the period. AYAL Capital Advisors Ltd grew its position in shares of ModivCare by 42.1% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 262,904 shares of the company’s stock worth $6,899,000 after buying an additional 77,930 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ModivCare by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock worth $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.