Barrington Research upgraded shares of ModivCare (NASDAQ:MODV – Free Report) from a market perform rating to an outperform rating in a research report report published on Friday morning, MarketBeat reports. Barrington Research currently has $35.00 price target on the stock.
Separately, Lake Street Capital upgraded ModivCare from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Monday, May 6th.
Get Our Latest Stock Analysis on MODV
ModivCare Stock Performance
ModivCare (NASDAQ:MODV – Get Free Report) last posted its earnings results 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). ModivCare had a positive return on equity of 34.93% and a negative net margin of 8.02%. The firm had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the business posted $1.41 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that ModivCare will post 3.22 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of ModivCare by 5,522.7% in 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 period. State Board of Administration of Florida Retirement System bought a new position in ModivCare in the first quarter valued at about $91,000. Central Pacific Bank Trust Division bought a new position in ModivCare in the first quarter valued at about $100,000. Quest Partners LLC grew its position in 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 last quarter. Finally, Advisors Preferred LLC bought a new position in ModivCare in the first quarter valued at about $159,000.
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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