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DocGo Inc. - DCGO STOCK NEWS

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

DocGo Inc. (DCGO) is a prominent provider of mobile medical services and transportation across 26 US states and the United Kingdom. The company specializes in delivering last-mile mobile health services and integrated medical mobility solutions, ensuring quality healthcare access wherever it's needed. DocGo operates through three primary segments: Mobile Health Services, Transportation Services, and Corporate, with Mobile Health Services being the most significant revenue contributor.

DocGo's Mobile Health Services segment encompasses a wide range of medical offerings, including on-site health assessments, remote patient monitoring, and urgent care. These services aim to bridge the gap between traditional healthcare facilities and patients, providing timely and efficient care right at the patient's location.

The Transportation Services segment focuses on non-emergency medical transportation, ensuring patients can safely travel to and from healthcare appointments. This segment is essential for maintaining consistent patient care, particularly for individuals with mobility challenges or those requiring specialized transport vehicles.

DocGo's Corporate segment manages administrative functions and strategic initiatives, supporting the operational efficiency and growth of the company's primary services. Recent achievements for DocGo include expanding its service areas, integrating advanced technology in patient care, and forming strategic partnerships with notable healthcare providers to enhance service delivery and patient outcomes.

Financially, DocGo has demonstrated steady growth, bolstered by its diversified service offerings and commitment to innovation in healthcare delivery. The company's focus on expanding its footprint and leveraging technology positions it to continue thriving in the dynamic healthcare sector.

News

DocGo Leadership Purchase Shares in Open Market

Rhea-AI Summary
DocGo Inc. (Nasdaq: DCGO) announces leadership members' recent share purchases, showing confidence in the company's future. Norman Rosenberg, DocGo CFO, bought 10,000 shares at $3.61 each; Steven Katz, incoming Chair of the Board, acquired 13,500 shares at $3.64; Michael Burdiek, Board member, purchased 10,000 shares at $3.61. CEO Lee Bienstock highlights belief in DocGo's strong fundamentals.
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DocGo Announces Repurchases of Common Stock and Adoption of 10b5-1 Trading Plan for Share Repurchase Program

Rhea-AI Summary
DocGo Inc. (Nasdaq: DCGO) has repurchased 1.25 million shares of its common stock at $3.88 per share under its $36 million Repurchase Program. The company also initiated a 10b5-1 trading plan to repurchase an additional $10 million of its stock, aiming to create shareholder value and sustain profitable growth.
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DocGo Announces Record Fourth Quarter and Full-Year 2023 Results

Rhea-AI Summary
DocGo Inc. updates 2024 revenue guidance to $720-$750 million and introduces adjusted EBITDA guidance of $80-$85 million. The company reports strong financial performance for Q4 2023 with total revenues of $199.2 million, a year-over-year increase of 83%. Net income for Q4 2023 was $8.0 million, up by 13%. Adjusted EBITDA for Q4 2023 saw a significant increase of 232% to $22.6 million. Full-year 2023 revenues reached $624.2 million, a 42% increase over 2022. However, net income for 2023 decreased to $10.0 million due to non-cash, stock-based compensation and an income tax provision. The company's cash and cash equivalents stood at $72.2 million as of December 31, 2023, with additional payments of $120 million received in 2024. DocGo also announced various corporate highlights and initiatives, including a share repurchase program.
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DocGo Senior Leadership Hires Deepen Public Health, Value-based Care Experience

Rhea-AI Summary
DocGo Inc. (DCGO) hires Jen McLean and Yong Kim as Vice Presidents to expand health plan partnerships and government programs. Kim brings experience from CVS Health, focusing on business growth and value-based care. McLean, from City Harvest, will lead public health initiatives. DocGo aims to democratize healthcare through innovative technology.
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DocGo to Announce Fourth Quarter and Full Year 2023 Results on Wednesday, February 28, 2024

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DocGo Inc. (Nasdaq: DCGO) to release financial results for Q4 and full year 2023 on February 28, 2024. Management to host conference call and webcast to discuss results.
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DocGo Announces Participation at Two Upcoming Investor Conferences

Rhea-AI Summary
DocGo Inc. (Nasdaq: DCGO) will be participating in investor conferences in February and March, including the 11th Annual BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference and the 44th Annual Health Care Conference. The company will engage in 1x1 investor meetings at both events, providing an opportunity for networking and potential investment opportunities.
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DocGo Announces Share Buyback Program

Rhea-AI Summary
DocGo Inc. (Nasdaq: DCGO) has announced a new share repurchase program allowing the purchase of up to $36 million of its common stock by July 30, 2024. The prior share repurchase authorization expired on November 24, 2023. The approved amount represents approximately 10% of DocGo’s outstanding shares based on the share price at the time of authorization. The company may purchase shares through open market repurchases, privately negotiated transactions, or other means. The timing and actual number of shares repurchased will depend on various factors, including stock price, trading volume, and market conditions.
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DocGo Provides Additional Information to Refute Misleading Short Seller “Report”

Rhea-AI Summary
DocGo Inc. rejects Fuzzy Panda Research's assessment of their business practices, calling it false, misleading, and defamatory. The Company refutes allegations of Medicare fraud, stating that they are routinely reviewed by regulatory agencies and have not had adverse material financial findings against them. They have a robust compliance department and engage independent third-party audit firms. DocGo also dismisses claims of a 'culture of cover up' against a purported UK subsidiary, clarifying that the North East Ambulance Trust is a customer, not a subsidiary.
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DocGo Rejects Short Seller Report and Releases Preliminary 2024 Revenue Guidance

Rhea-AI Summary
DocGo Inc. (DocGo) rejects a purported assessment by Fuzzy Panda Research, an obscure short seller, as false and defamatory. The company's revenue for fiscal year 2023 is expected to be between $615 million and $625 million, with revenue in 2024 expected to exceed $700 million.
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DocGo Subsidiary Achieves ISO 9001:2015 Certification, Further Elevating its Commitment to Quality Management

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DocGo Inc. (Nasdaq: DCGO) has achieved ISO 9001:2015 certification for its medical staffing division that services federal agencies. This certification underscores the company's commitment to quality management and customer satisfaction, positioning it as a premier provider for commercial and government customers.
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FAQ

What is the current stock price of DocGo (DCGO)?

The current stock price of DocGo (DCGO) is $4.51 as of December 20, 2024.

What is the market cap of DocGo (DCGO)?

The market cap of DocGo (DCGO) is approximately 444.7M.

What services does DocGo Inc. provide?

DocGo Inc. offers mobile medical services, including on-site health assessments, remote patient monitoring, and urgent care. They also provide non-emergency medical transportation.

In which regions does DocGo Inc. operate?

DocGo Inc. operates in 26 US states and the United Kingdom.

What are the main segments of DocGo Inc.?

DocGo Inc. operates through three segments: Mobile Health Services, Transportation Services, and Corporate.

What is the primary revenue-generating segment for DocGo Inc.?

The primary revenue-generating segment for DocGo Inc. is Mobile Health Services.

What recent achievements has DocGo Inc. accomplished?

DocGo Inc. has expanded its service areas, integrated advanced technology in patient care, and formed strategic partnerships with healthcare providers.

What is the focus of DocGo Inc.'s Transportation Services segment?

The Transportation Services segment focuses on non-emergency medical transportation, ensuring safe travel for patients to and from healthcare appointments.

How does DocGo Inc. support operational efficiency?

DocGo Inc.'s Corporate segment manages administrative functions and strategic initiatives to support operational efficiency and growth.

How has DocGo Inc. demonstrated financial growth?

DocGo Inc. has shown steady financial growth through its diversified services and innovation in healthcare delivery.

What is the significance of DocGo Inc.'s expanded service footprint?

The expanded service footprint allows DocGo Inc. to provide timely and efficient healthcare to a broader population, enhancing access to medical services.

How does technology play a role in DocGo Inc.'s services?

DocGo Inc. leverages advanced technology in patient care to improve service delivery and patient outcomes, making healthcare more accessible and efficient.

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DocGo Inc.

Nasdaq:DCGO

DCGO Rankings

#3197 Ranked by Market Cap
N/A Ranked by Dividends

DCGO Stock Data

444.69M
93.62M
7.39%
54.95%
6.37%
Medical Care Facilities
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United States of America
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