Scout Investments Inc. lifted its position in shares of ModivCare Inc. (NASDAQ:MODV – Get Rating) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,377 shares of the company’s stock after purchasing an additional 2,602 shares during the period. Scout Investments Inc. owned 0.50% of ModivCare worth $5,947,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue increased its stake in shares of ModivCare by 9.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,350 shares of the company’s stock worth $790,000 after purchasing an additional 785 shares during the last quarter. Bank of America Corp DE grew its stake in ModivCare by 93.7% in the 1st quarter. Bank of America Corp DE now owns 74,837 shares of the company’s stock valued at $8,635,000 after buying an additional 36,193 shares during the last quarter. Neuberger Berman Group LLC grew its stake in ModivCare by 81.4% in the 1st quarter. Neuberger Berman Group LLC now owns 330,136 shares of the company’s stock valued at $38,094,000 after buying an additional 148,191 shares during the last quarter. Jane Street Group LLC acquired a new position in ModivCare in the 1st quarter valued at about $453,000. Finally, Penn Capital Management Company LLC grew its stake in ModivCare by 16.9% in the 1st quarter. Penn Capital Management Company LLC now owns 71,597 shares of the company’s stock valued at $8,451,000 after buying an additional 10,360 shares during the last quarter.
Analysts Set New Price Targets
MODV has been the topic of a number of research reports. Barrington Research upped their price target on shares of ModivCare to $157.00 in a research note on Tuesday, August 9th. Stephens reiterated an “initiates” rating on shares of ModivCare in a research note on Wednesday, August 3rd.
ModivCare Trading Down 0.3 %
Shares of NASDAQ:MODV opened at $98.96 on Monday. The company’s 50 day moving average price is $107.10 and its two-hundred day moving average price is $103.42. ModivCare Inc. has a 12-month low of $80.55 and a 12-month high of $191.24. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.72 and a current ratio of 0.72.
ModivCare (NASDAQ:MODV – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.56. ModivCare had a negative net margin of 1.56% and a positive return on equity of 26.31%. The firm had revenue of $631.55 million for the quarter, compared to analyst estimates of $584.80 million. As a group, sell-side analysts predict that ModivCare Inc. will post 6.17 earnings per share for the current year.
ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and the Matrix Investment.
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