Deutsche Bank Aktiengesellschaft Cuts ModivCare (NASDAQ:MODV) Price Target to $130.00

ModivCare (NASDAQ:MODVGet Rating) had its price target dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $130.00 in a report released on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 26.76% from the company’s current price.

Several other brokerages have also weighed in on MODV. Zacks Investment Research upgraded shares of ModivCare from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Barrington Research cut their price objective on shares of ModivCare from $190.00 to $155.00 and set an “outperform” rating on the stock in a report on Monday, February 28th.

MODV opened at $102.56 on Friday. ModivCare has a one year low of $94.03 and a one year high of $211.94. The company has a debt-to-equity ratio of 2.61, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50 day simple moving average is $111.79 and its 200-day simple moving average is $127.40. The stock has a market capitalization of $1.99 billion, a P/E ratio of -197.23, a price-to-earnings-growth ratio of 1.29 and a beta of 0.74.

ModivCare (NASDAQ:MODVGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. ModivCare had a negative net margin of 0.33% and a positive return on equity of 27.56%. The business had revenue of $574.50 million for the quarter, compared to analyst estimates of $565.77 million. During the same period in the prior year, the business posted $1.92 earnings per share. ModivCare’s revenue was up 26.7% compared to the same quarter last year. As a group, analysts anticipate that ModivCare will post 6.71 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in ModivCare by 2.8% in the fourth quarter. BlackRock Inc. now owns 1,989,230 shares of the company’s stock worth $294,981,000 after purchasing an additional 53,818 shares during the period. Janus Henderson Group PLC raised its holdings in ModivCare by 24.4% in the third quarter. Janus Henderson Group PLC now owns 657,463 shares of the company’s stock worth $119,409,000 after purchasing an additional 129,091 shares during the period. JPMorgan Chase & Co. raised its holdings in ModivCare by 71.2% in the fourth quarter. JPMorgan Chase & Co. now owns 482,502 shares of the company’s stock worth $71,551,000 after purchasing an additional 200,617 shares during the period. State Street Corp raised its holdings in ModivCare by 2.7% in the fourth quarter. State Street Corp now owns 416,351 shares of the company’s stock worth $61,741,000 after purchasing an additional 10,812 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of ModivCare by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 327,537 shares of the company’s stock worth $59,486,000 after acquiring an additional 8,062 shares during the period. Institutional investors own 73.85% of the company’s stock.

About ModivCare (Get Rating)

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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