Allianz Asset Management GmbH Invests $3.12 Million in ModivCare Inc. (NASDAQ:MODV)

Allianz Asset Management GmbH acquired a new stake in shares of ModivCare Inc. (NASDAQ:MODV) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,047 shares of the company’s stock, valued at approximately $3,118,000. Allianz Asset Management GmbH owned 0.15% of ModivCare as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Northern Trust Corp bought a new position in ModivCare in the first quarter worth approximately $23,025,000. Investment Counselors of Maryland LLC purchased a new stake in shares of ModivCare in the first quarter worth $39,597,000. Geode Capital Management LLC purchased a new stake in shares of ModivCare in the first quarter worth $33,277,000. Prudential Financial Inc. purchased a new stake in shares of ModivCare in the first quarter worth $4,707,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of ModivCare in the first quarter worth $1,410,000.

MODV opened at $176.62 on Friday. The stock has a market capitalization of $2.48 billion, a PE ratio of 67.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. The company’s fifty day moving average is $149.63. ModivCare Inc. has a fifty-two week low of $73.35 and a fifty-two week high of $184.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.16.

ModivCare (NASDAQ:MODV) last posted its earnings results on Friday, May 7th. The company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.32. The company had revenue of $453.60 million during the quarter, compared to analysts’ expectations of $483.06 million. ModivCare had a net margin of 2.63% and a return on equity of 28.10%. The firm’s revenue was up 23.5% compared to the same quarter last year. On average, analysts anticipate that ModivCare Inc. will post 5.96 earnings per share for the current year.

A number of analysts have recently issued reports on MODV shares. Barrington Research increased their price objective on shares of ModivCare from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, May 10th. Zacks Investment Research cut shares of ModivCare from a “hold” rating to a “sell” rating in a research note on Tuesday, March 9th. Finally, TheStreet raised shares of ModivCare from a “c+” rating to a “b” rating in a research note on Tuesday, May 18th.

ModivCare Company Profile

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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Institutional Ownership by Quarter for ModivCare (NASDAQ:MODV)

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