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ModivCare Inc - MODV STOCK NEWS

Welcome to our dedicated news page for ModivCare (Ticker: MODV), a resource for investors and traders seeking the latest updates and insights on ModivCare.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect ModivCare's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of ModivCare's position in the market.

Rhea-AI Summary
Modivcare Inc. (MODV) announced significant advancements in its digital mobility member application, solidifying its position as the industry leader in Non-Emergency Medical Transportation (NEMT) services. With over 140,000 new users in the last year and a 4.5+ rating on app stores, Modivcare's app offers a seamless experience for members and caregivers, with 5,000+ new member weekly downloads.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.26%
Tags
none
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Rhea-AI Summary
Modivcare Inc. (MODV) reported its financial results for the fourth quarter and full year of 2023, showing positive growth in service revenue and adjusted EBITDA. The company also won significant new contracts in the NEMT sector, although it faced a net loss and negative free cash flow for the period.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-39.32%
Tags
earnings
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Rhea-AI Summary
Modivcare Inc. (MODV) announces a partnership with Governor Jim Justice’s Jobs & Hope West Virginia to provide transportation services, leading to positive outcomes for West Virginians. The collaboration has resulted in over 120,000 trip legs covering 2.2 million miles, graduation of 495 participants, and employment of 5,124 individuals with an average salary of $33,398. The partnership aims to break down transportation barriers, offer incentives for substance use treatment, and help individuals gain access to treatment, employment, counseling, and educational programs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.73%
Tags
partnership
Rhea-AI Summary
The University of Rochester Medical Center partners with Five Star Bank to provide telemedicine stations at bank branches in rural communities. The initiative aims to improve health care access and wellness outcomes in Upstate New York. The partners include Financial Institutions, Inc. (NASDAQ: FISI), Higi, Modivcare (NASDAQ: MODV), DexCare, Inc., and Verizon Business. The initiative is the first of its kind, bringing together a health system and a financial institution to provide telemedicine-equipped health stations to rural communities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.72%
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none
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Rhea-AI Summary
The University of Rochester Medical Center partners with Five Star Bank to provide telemedicine stations at bank branches in rural communities. The initiative aims to improve health care access and wellness outcomes in Upstate New York. The partners include Financial Institutions, Inc. (NASDAQ: FISI), Higi, Modivcare (NASDAQ: MODV), DexCare, Inc., and Verizon Business. The initiative is the first of its kind, bringing together a health system and a financial institution to provide telemedicine-equipped health stations to rural communities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.82%
Tags
none
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Rhea-AI Summary
Modivcare Inc. is set to report its financial results for the fourth quarter and full year ended December 31, 2023, on February 22, 2024. The company will host a conference call on February 23, 2024, to discuss the financial results. Interested parties can access the live webcast via the company's website and a replay will be available approximately one hour after the call concludes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.31%
Tags
conferences earnings
Rhea-AI Summary
Modivcare Inc. (Nasdaq: MODV) announced the appointment of Jeff Bennett as Chief Strategy and Innovation Officer and Seth Ravine as Chief Commercial Officer, effective December 2023. The company aims to provide innovative and cohesive healthcare solutions with a focus on improving health outcomes. Jeff Bennett brings nearly 30 years of experience and a proven track record of success to the team, while Seth Ravine will play a key role in advancing Modivcare's strategic expansion to reach crucial markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.14%
Tags
management
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Rhea-AI Summary
Modivcare Inc. (MODV) to present at the 42nd Annual J.P. Morgan Healthcare Conference, offering a platform of integrated supportive care solutions to improve health outcomes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.1%
Tags
conferences
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Rhea-AI Summary
Modivcare Inc. (Nasdaq: MODV) announced that its President and CEO, Heath Sampson, and other members of the management team will be attending several investor conferences in the coming weeks. These conferences include the Stephens Annual Investment Conference, BofA Securities Leveraged Finance Conference, and BofA Home Care Conference. The company will be participating in fireside chat presentations, hosting investor meetings, and providing live webcasts for each conference.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.45%
Tags
conferences
Rhea-AI Summary
Modivcare Inc. reported financial results for Q3 2023, with service revenue of $686.9 million, a 6.0% increase compared to the same period last year. The company had a net loss of $4.3 million or $0.30 per diluted common share. Adjusted EBITDA was $51.3 million, adjusted net income was $20.5 million, and adjusted EPS was $1.44 per diluted common share. Cash provided by operating activities was $53.5 million, and free cash flow was $44.7 million. Contract receivables increased by $9.5 million to $129.3 million, and contract payables increased by $24.5 million to $133.6 million. The company repaid $43.5 million on its revolving credit facility, reducing the balance drawn to $83.0 million. Modivcare also won $138.0 million of NEMT managed Medicaid total contract value during the quarter and was awarded a state Medicaid expansion in the northeast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.02%
Tags
earnings
ModivCare Inc

Nasdaq:MODV

MODV Rankings

MODV Stock Data

353.67M
11.05M
1.91%
105.9%
7.58%
Other Individual and Family Services
Health Care and Social Assistance
Link
US
Stamford

About MODV

modivcare is a healthcare services leader. our company was created to address the social determinants of health (sdoh) by providing non-emergency medical transportation (nemt), personal care, nutritious meals, and remote patient monitoring. we provide integrated technologies that support care solutions for payors and their members – leading to greater access to care, reduced costs, and improved outcomes.