ModivCare (NASDAQ:MODV – Free Report) had its price target lowered by Lake Street Capital from $50.00 to $30.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group dropped their price objective 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 raised ModivCare from a market perform rating to an outperform rating and set a $35.00 target price on the stock in a research report on Friday, August 9th.
Read Our Latest Stock Analysis on MODV
ModivCare Trading Down 6.3 %
ModivCare (NASDAQ:MODV – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The firm had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Analysts expect that ModivCare will post 1.24 earnings per share for the current fiscal year.
Institutional Trading of ModivCare
A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in ModivCare by 5,522.7% during the second 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. Canada Pension Plan Investment Board acquired a new position in shares of ModivCare during the second quarter worth $60,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of ModivCare during the 1st quarter valued at $91,000. Central Pacific Bank Trust Division acquired a new stake in shares of ModivCare in the 1st quarter worth $100,000. Finally, Quest Partners LLC grew its stake in 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 buying an additional 1,332 shares during the last quarter.
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.
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