ModivCare (NASDAQ:MODV) Shares Gap Down to $167.43

ModivCare Inc. (NASDAQ:MODV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $167.43, but opened at $163.73. ModivCare shares last traded at $168.23, with a volume of 245 shares trading hands.

MODV has been the subject of a number of research analyst reports. Barrington Research increased their price target on ModivCare from $170.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Zacks Investment Research cut ModivCare from a “buy” rating to a “hold” rating in a research note on Tuesday.

The company has a market capitalization of $2.34 billion, a PE ratio of 37.04, a PEG ratio of 2.71 and a beta of 0.63. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.19. The business has a 50 day simple moving average of $182.35 and a 200 day simple moving average of $164.45.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Friday, August 6th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.84. ModivCare had a return on equity of 26.57% and a net margin of 3.93%. The firm had revenue of $474.40 million during the quarter, compared to analysts’ expectations of $486.95 million. ModivCare’s revenue was up 68.0% on a year-over-year basis. Equities analysts expect that ModivCare Inc. will post 6.41 EPS for the current fiscal year.

In other news, CEO Daniel E. Greenleaf acquired 581 shares of ModivCare stock in a transaction dated Wednesday, September 15th. The stock was purchased at an average cost of $172.85 per share, for a total transaction of $100,425.85. Following the completion of the purchase, the chief executive officer now directly owns 35,078 shares in the company, valued at approximately $6,063,232.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.90% of the company’s stock.

Several large investors have recently made changes to their positions in MODV. Russell Investments Group Ltd. purchased a new position in ModivCare during the first quarter valued at approximately $6,386,000. New York State Common Retirement Fund purchased a new position in ModivCare during the first quarter valued at approximately $10,623,000. Teacher Retirement System of Texas purchased a new position in ModivCare during the first quarter valued at approximately $208,000. UBS Group AG purchased a new position in ModivCare during the first quarter valued at approximately $1,026,000. Finally, Sei Investments Co. purchased a new position in ModivCare during the first quarter valued at approximately $8,420,000.

About ModivCare (NASDAQ:MODV)

ModivCare, Inc provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company’s insurance captive.

Recommended Story: Strangles

Receive News & Ratings for ModivCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ModivCare and related companies with MarketBeat.com's FREE daily email newsletter.