American Century Companies Inc. raised its stake in ModivCare Inc. (NASDAQ:MODV – Free Report) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,497 shares of the company’s stock after buying an additional 350 shares during the period. American Century Companies Inc. owned approximately 0.83% of ModivCare worth $9,879,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of ModivCare by 1.4% in the third quarter. BlackRock Inc. now owns 2,018,242 shares of the company’s stock valued at $201,180,000 after buying an additional 27,931 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in ModivCare by 35.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,134,756 shares of the company’s stock valued at $101,822,000 after purchasing an additional 294,108 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in ModivCare by 7.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 920,828 shares of the company’s stock valued at $82,626,000 after purchasing an additional 64,328 shares during the period. Vanguard Group Inc. raised its stake in ModivCare by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 878,125 shares of the company’s stock valued at $87,531,000 after purchasing an additional 15,515 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in ModivCare by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 808,041 shares of the company’s stock valued at $68,279,000 after purchasing an additional 4,361 shares during the period.
Analysts Set New Price Targets
MODV has been the topic of several recent analyst reports. TheStreet downgraded shares of ModivCare from a “c-” rating to a “d+” rating in a research note on Wednesday, May 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of ModivCare from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, Barrington Research cut their target price on shares of ModivCare from $92.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, August 7th.
Insider Buying and Selling
In other ModivCare news, Director Coliseum Capital Management, L acquired 180,923 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $35.25 per share, for a total transaction of $6,377,535.75. Following the completion of the acquisition, the director now owns 1,848,825 shares of the company’s stock, valued at approximately $65,171,081.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by corporate insiders.
ModivCare Stock Up 1.0 %
ModivCare stock opened at $32.42 on Monday. The company’s fifty day simple moving average is $42.57 and its 200-day simple moving average is $60.84. The company has a debt-to-equity ratio of 6.08, a quick ratio of 0.74 and a current ratio of 0.74. ModivCare Inc. has a 12 month low of $31.61 and a 12 month high of $115.30.
ModivCare (NASDAQ:MODV – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.27 by $0.14. The business had revenue of $701.74 million for the quarter, compared to analysts’ expectations of $650.36 million. ModivCare had a negative net margin of 8.63% and a positive return on equity of 29.63%. On average, sell-side analysts predict that ModivCare Inc. will post 5.46 earnings per share for the current fiscal year.
ModivCare Company Profile
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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