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

ModivCare (NASDAQ:MODV) had its target price reduced by Lake Street Capital from $50.00 to $30.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

MODV has been the subject of several other reports. Barrington Research upgraded ModivCare from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research note on Friday, August 9th. Jefferies Financial Group lowered their target price on shares of ModivCare from $25.00 to $14.00 and set a hold rating on the stock in a report on Friday, September 13th.

ModivCare Trading Down 5.9 %

Shares of MODV stock opened at $12.71 on Tuesday. The firm has a fifty day moving average of $24.33 and a 200-day moving average of $25.45. The stock has a market cap of $180.62 million, a price-to-earnings ratio of -0.82, a P/E/G ratio of 1.02 and a beta of 0.52. ModivCare has a 52-week low of $11.00 and a 52-week high of $52.33. 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 (NASDAQ:MODV) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The business had revenue of $698.30 million for the quarter, compared to the consensus estimate of $701.00 million. ModivCare had a positive return on equity of 27.52% and a negative net margin of 5.80%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. On average, equities research analysts forecast that ModivCare will post 1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ModivCare

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System acquired a new stake in shares of ModivCare in the first quarter valued at $91,000. Price T Rowe Associates Inc. MD increased its position in ModivCare by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock valued at $481,000 after acquiring an additional 608 shares in the last quarter. Nisa Investment Advisors LLC increased its position in ModivCare by 5,522.7% in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ModivCare by 9.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 197,301 shares of the company’s stock worth $8,679,000 after acquiring an additional 17,220 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of ModivCare by 49.9% during the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock worth $105,000 after purchasing an additional 1,332 shares in 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.