Raymond James & Associates Sells 487 Shares of ModivCare Inc. (NASDAQ:MODV)

Raymond James & Associates decreased its stake in ModivCare Inc. (NASDAQ:MODV) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,565 shares of the company’s stock after selling 487 shares during the period. Raymond James & Associates owned about 0.07% of ModivCare worth $465,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MODV. Signaturefd LLC raised its position in ModivCare by 388.6% during the 3rd quarter. Signaturefd LLC now owns 816 shares of the company’s stock worth $26,000 after purchasing an additional 649 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in ModivCare by 134.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the company’s stock valued at $63,000 after buying an additional 1,156 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in ModivCare by 27.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,854 shares of the company’s stock valued at $153,000 after purchasing an additional 1,043 shares during the period. SG Americas Securities LLC bought a new position in ModivCare during the fourth quarter valued at about $187,000. Finally, Strs Ohio increased its stake in shares of ModivCare by 1,400.0% during the 3rd quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $189,000 after purchasing an additional 5,600 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MODV. Barrington Research lowered shares of ModivCare from an “outperform” rating to a “market perform” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of ModivCare from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $40.00 in a research report on Friday, February 23rd. Finally, Jefferies Financial Group downgraded ModivCare from a “buy” rating to a “hold” rating and lowered their price objective for the company from $60.00 to $39.00 in a research report on Friday, February 23rd.

ModivCare Stock Down 1.5 %

Shares of NASDAQ MODV opened at $23.56 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 6.30. ModivCare Inc. has a 12 month low of $19.64 and a 12 month high of $70.83. The firm has a fifty day simple moving average of $27.42 and a two-hundred day simple moving average of $36.38. The firm has a market capitalization of $334.50 million, a PE ratio of -1.63, a price-to-earnings-growth ratio of 0.67 and a beta of 0.44.

ModivCare (NASDAQ:MODV) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.05. The company had revenue of $703.22 million during the quarter, compared to analyst estimates of $699.34 million. ModivCare had a positive return on equity of 36.50% and a negative net margin of 7.42%. Equities analysts expect that ModivCare Inc. will post 4.22 earnings per share for the current 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.