Modular Medical (NASDAQ:MODD) Issues Earnings Results

Modular Medical (NASDAQ:MODD) issued its quarterly earnings data on Friday. The company reported ($1.19) EPS for the quarter, Zacks reports.

Modular Medical Price Performance

MODD opened at $2.49 on Friday. Modular Medical has a fifty-two week low of $1.74 and a fifty-two week high of $30.00. The firm has a market capitalization of $14.90 million, a P/E ratio of -0.17 and a beta of 0.37. The company’s 50-day moving average is $3.60 and its 200 day moving average is $5.95.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Modular Medical to a “strong sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Modular Medical presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Modular Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perritt Capital Management Inc lifted its position in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after buying an additional 21,675 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Modular Medical by 446.8% in the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after acquiring an additional 133,969 shares in the last quarter. 683 Capital Management LLC grew its holdings in shares of Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after acquiring an additional 780,000 shares in the last quarter. Finally, Bleichroeder LP grew its holdings in shares of Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after acquiring an additional 845,000 shares in the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.