Fintel reports that on August 9, 2024, Barrington Research upgraded their outlook for ModivCare (NasdaqGS:MODV) from Market Perform to Outperform.
Analyst Price Forecast Suggests 89.47% Upside
As of August 6, 2024, the average one-year price target for ModivCare is $44.68/share. The forecasts range from a low of $25.25 to a high of $78.75. The average price target represents an increase of 89.47% from its latest reported closing price of $23.58 / share.
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The projected annual revenue for ModivCare is 2,842MM, an increase of 2.51%. The projected annual non-GAAP EPS is 8.92.
What is the Fund Sentiment?
There are 329 funds or institutions reporting positions in ModivCare. This is an decrease of 34 owner(s) or 9.37% in the last quarter. Average portfolio weight of all funds dedicated to MODV is 0.07%, an increase of 26.20%. Total shares owned by institutions increased in the last three months by 4.02% to 17,295K shares. 
The put/call ratio of MODV is 0.21, indicating a bullish outlook.
What are Other Shareholders Doing?
Coliseum Capital Management holds 2,983K shares representing 20.99% ownership of the company. No change in the last quarter.
Neuberger Berman Group holds 1,273K shares representing 8.96% ownership of the company. In its prior filing, the firm reported owning 903K shares , representing an increase of 29.08%. The firm decreased its portfolio allocation in MODV by 28.76% over the last quarter.
Fuller & Thaler Asset Management holds 896K shares representing 6.30% ownership of the company. In its prior filing, the firm reported owning 899K shares , representing a decrease of 0.33%. The firm increased its portfolio allocation in MODV by 9.47% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 845K shares representing 5.95% ownership of the company. In its prior filing, the firm reported owning 829K shares , representing an increase of 1.90%. The firm decreased its portfolio allocation in MODV by 47.95% over the last quarter.
UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 756K shares representing 5.32% ownership of the company. In its prior filing, the firm reported owning 723K shares , representing an increase of 4.31%. The firm decreased its portfolio allocation in MODV by 50.26% over the last quarter.
ModivCare Background Information
(This description is provided by the company.)
ModivCare Inc. ('ModivCare') is a technology-enabled healthcare services company, which provides a suite of integrated supportive care solutions for public and private payors and their patients. Its value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. The Company is a leading provider of non-emergency medical transportation (NEMT), personal and home care, and nutritional meal delivery. ModivCare also holds a minority equity interest in CCHN Group Holdings, Inc. and its subsidiaries ('Matrix Medical Network'), which partners with leading health plans and providers nationally, delivering a broad array of assessment and care management services to individuals that improve health outcomes and health plan financial performance.
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