State of Tennessee Treasury Department acquired a new position in shares of ModivCare Inc. (NASDAQ:MODV) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,182 shares of the company’s stock, valued at approximately $1,508,000.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of ModivCare in the first quarter valued at $295,987,000. The Manufacturers Life Insurance Company purchased a new position in shares of ModivCare in the first quarter valued at approximately $25,843,000. Wedge Capital Management L L P NC acquired a new position in shares of ModivCare in the first quarter valued at approximately $24,994,000. Nuveen Asset Management LLC acquired a new stake in ModivCare during the 4th quarter worth approximately $21,813,000. Finally, State of Michigan Retirement System purchased a new stake in shares of ModivCare during the first quarter worth $18,589,000.
A number of research firms recently issued reports on MODV. TheStreet upgraded ModivCare from a “c+” rating to a “b” rating in a report on Tuesday, May 18th. Barrington Research boosted their price objective on ModivCare from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, May 10th. Finally, Zacks Investment Research lowered shares of ModivCare from a “hold” rating to a “sell” rating in a research note on Tuesday, March 9th.
ModivCare (NASDAQ:MODV) last announced its quarterly earnings results on Friday, May 7th. The company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.32. ModivCare had a net margin of 2.63% and a return on equity of 28.10%. The firm had revenue of $453.60 million for the quarter, compared to analyst estimates of $483.06 million. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities analysts predict that ModivCare Inc. will post 5.96 EPS for the current year.
ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. It offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.
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