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

ModivCare (NASDAQ:MODV) had its price target cut by Barrington Research from $35.00 to $19.00 in a research report report published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock. Barrington Research also issued estimates for ModivCare’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $0.25 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.78 EPS, FY2025 earnings at $2.22 EPS and FY2026 earnings at $3.91 EPS.

Several other analysts also recently commented on MODV. Jefferies Financial Group lowered their target price on shares of ModivCare from $25.00 to $14.00 and set a hold rating for the company in a report on Friday, September 13th. Lake Street Capital reduced their price objective 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 Price Performance

Shares of NASDAQ MODV opened at $11.91 on Tuesday. The stock has a market cap of $169.60 million, a price-to-earnings ratio of -0.76, a PEG ratio of 1.42 and a beta of 0.52. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. ModivCare has a fifty-two week low of $11.00 and a fifty-two week high of $52.33. The firm’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $25.36.

ModivCare (NASDAQ:MODV) last announced its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.80). The company had revenue of $698.30 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, research analysts anticipate that ModivCare will post 1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Several large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in shares of ModivCare by 5,522.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in ModivCare in the second quarter valued at about $60,000. State Board of Administration of Florida Retirement System bought a new position in shares of ModivCare during the 1st quarter valued at approximately $91,000. Central Pacific Bank Trust Division bought a new position in shares of ModivCare during the 1st quarter valued at approximately $100,000. Finally, Quest Partners LLC raised its holdings in shares of ModivCare by 49.9% in the 2nd quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 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.