ModivCare (NASDAQ:MODV) Given New $14.00 Price Target at Jefferies Financial Group

ModivCare (NASDAQ:MODV) had its price objective reduced by Jefferies Financial Group from $25.00 to $14.00 in a research note published on Friday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Separately, Barrington Research upgraded ModivCare from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a report on Friday, August 9th.

ModivCare Stock Up 10.7 %

Shares of NASDAQ:MODV opened at $14.12 on Friday. ModivCare has a fifty-two week low of $11.00 and a fifty-two week high of $52.33. The firm’s 50 day moving average price is $24.99 and its 200 day moving average price is $25.78. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63. The stock has a market cap of $200.66 million, a price-to-earnings ratio of -0.90, a price-to-earnings-growth ratio of 2.50 and a beta of 0.52.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). The firm had revenue of $698.30 million during the quarter, compared to analyst estimates of $701.00 million. ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. ModivCare’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts predict that ModivCare will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ModivCare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its holdings in shares of ModivCare by 5,522.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock worth $32,000 after purchasing an additional 1,215 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in ModivCare during the 2nd quarter worth approximately $60,000. State Board of Administration of Florida Retirement System acquired a new position in ModivCare during the first quarter worth approximately $91,000. Central Pacific Bank Trust Division purchased a new stake in ModivCare in the first quarter valued at approximately $100,000. Finally, Quest Partners LLC boosted its holdings in shares of ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after acquiring 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.