Barrington Research Reaffirms “Outperform” Rating for ModivCare (NASDAQ:MODV)

ModivCare (NASDAQ:MODV)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock. Barrington Research’s target price points to a potential upside of 60.36% from the company’s previous close.

MODV has been the subject of several other research reports. Jefferies Financial Group cut their price target on 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 cut their price target on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

ModivCare Trading Up 0.2 %

Shares of ModivCare stock opened at $15.59 on Monday. ModivCare has a 1 year low of $11.00 and a 1 year high of $52.33. The firm has a market cap of $222.69 million, a PE ratio of -1.21, a P/E/G ratio of 2.53 and a beta of 0.47. The stock has a fifty day moving average price of $15.51 and a 200-day moving average price of $22.38. The company has a debt-to-equity ratio of 103.63, a current ratio of 0.80 and a quick ratio of 0.80.

ModivCare (NASDAQ:MODV) last announced 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). ModivCare had a negative net margin of 6.57% and a positive return on equity of 26.14%. The business had revenue of $702.04 million for the quarter, compared to analysts’ expectations of $711.28 million. During the same period in the prior year, the business earned $1.35 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that ModivCare will post 0.64 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Q Global Capital Management, L bought 50,748 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average price of $14.16 per share, for a total transaction of $718,591.68. Following the purchase, the insider now directly owns 1,475,038 shares in the company, valued at $20,886,538.08. This trade represents a 3.56 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 247,705 shares of company stock worth $3,903,538 in the last quarter. 22.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.