According to Zacks, “ModivCare Inc. is a technology-enabled healthcare services company. It provides a suite of integrated supportive care solutions for public and private payors and their patients. ModivCare Inc., formerly known as The Providence Service Corporation, is based in DENVER. “
MODV has been the topic of several other reports. TheStreet lowered ModivCare from a b rating to a c rating in a research report on Friday, November 12th. Deutsche Bank Aktiengesellschaft started coverage on ModivCare in a research report on Friday, December 17th. They issued a buy rating and a $180.00 price objective on the stock.
ModivCare (NASDAQ:MODV) last issued its earnings results on Friday, November 5th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.21. The business had revenue of $493.10 million for the quarter, compared to analyst estimates of $502.45 million. ModivCare had a return on equity of 23.04% and a net margin of 1.20%. The business’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the company posted $2.69 EPS. Sell-side analysts predict that ModivCare will post 7.54 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in MODV. William Blair Investment Management LLC increased its position in shares of ModivCare by 47,803.9% during the third quarter. William Blair Investment Management LLC now owns 282,633 shares of the company’s stock worth $51,332,000 after acquiring an additional 282,043 shares during the last quarter. Cardinal Capital Management LLC CT acquired a new position in ModivCare in the second quarter worth about $39,097,000. Bank of New York Mellon Corp grew its stake in ModivCare by 87.9% in the second quarter. Bank of New York Mellon Corp now owns 319,475 shares of the company’s stock worth $54,334,000 after purchasing an additional 149,409 shares in the last quarter. Janus Henderson Group PLC grew its stake 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 in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in ModivCare by 19.7% in the second quarter. Silvercrest Asset Management Group LLC now owns 460,008 shares of the company’s stock worth $78,234,000 after purchasing an additional 75,847 shares in the last quarter.
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.
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