ModivCare (NASDAQ:MODV) Given New $30.00 Price Target at Lake Street Capital

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

MODV has been the topic of a number of other research reports. Jefferies Financial Group reduced their price objective on ModivCare from $25.00 to $14.00 and set a hold rating on the stock in a research note on Friday, September 13th. Barrington Research raised ModivCare from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a research note on Friday, August 9th.

ModivCare Stock Up 5.8 %

NASDAQ MODV opened at $13.46 on Tuesday. The stock’s 50 day moving average is $24.55 and its 200 day moving average is $25.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. ModivCare has a 12 month low of $11.00 and a 12 month high of $52.33. The stock has a market cap of $191.67 million, a PE ratio of -0.86, a P/E/G ratio of 1.02 and a beta of 0.52.

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

Hedge Funds Weigh In On ModivCare

Several large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of ModivCare by 3.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,511 shares of the company’s stock valued at $381,000 after purchasing an additional 530 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in ModivCare by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,483 shares of the company’s stock worth $481,000 after purchasing an additional 608 shares during the period. Nisa Investment Advisors LLC increased its stake in 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. Quest Partners LLC increased its stake in ModivCare by 49.9% in 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 during the period. Finally, American Century Companies Inc. increased its stake in ModivCare by 9.5% in the second quarter. American Century Companies Inc. now owns 19,916 shares of the company’s stock worth $523,000 after purchasing an additional 1,726 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.