ModivCare (NASDAQ:MODV) Stock Rating Reaffirmed by Stephens

Stephens reissued their initiates rating on shares of ModivCare (NASDAQ:MODVGet Rating) in a research note published on Wednesday, Benzinga reports.

Separately, Deutsche Bank Aktiengesellschaft decreased their target price on ModivCare from $150.00 to $130.00 in a research note on Friday, May 6th.

ModivCare Trading Up 2.5 %

NASDAQ MODV opened at $105.03 on Wednesday. The stock has a 50-day simple moving average of $93.25 and a 200 day simple moving average of $103.69. The company has a current ratio of 0.72, a quick ratio of 0.83 and a debt-to-equity ratio of 2.56. ModivCare has a 12 month low of $80.55 and a 12 month high of $211.94.

ModivCare (NASDAQ:MODVGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.01). ModivCare had a negative net margin of 1.56% and a positive return on equity of 26.31%. The business had revenue of $574.50 million during the quarter, compared to analyst estimates of $565.77 million. During the same period in the previous year, the firm posted $1.92 earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. On average, analysts expect that ModivCare will post 6.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. boosted its position in ModivCare by 217.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 765,495 shares of the company’s stock valued at $88,330,000 after purchasing an additional 524,529 shares during the last quarter. Ophir Asset Management Pty Ltd boosted its position in ModivCare by 117.3% during the second quarter. Ophir Asset Management Pty Ltd now owns 659,380 shares of the company’s stock valued at $14,764,000 after purchasing an additional 355,960 shares during the last quarter. HG Vora Capital Management LLC boosted its position in ModivCare by 66.7% during the first quarter. HG Vora Capital Management LLC now owns 500,000 shares of the company’s stock valued at $57,695,000 after purchasing an additional 200,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ModivCare by 71.2% during the fourth quarter. JPMorgan Chase & Co. now owns 482,502 shares of the company’s stock valued at $71,551,000 after purchasing an additional 200,617 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ModivCare by 14.8% during the first quarter. Bank of New York Mellon Corp now owns 431,239 shares of the company’s stock valued at $49,760,000 after purchasing an additional 55,736 shares during the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.

About ModivCare

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ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and the Matrix Investment.

Further Reading

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