Welcome to our dedicated page for ModivCare news (Ticker: $MODV), a resource for investors and traders seeking the latest updates and insights on ModivCare stock.
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.
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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.
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End-of-Day
-1.14%
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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.
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-1.1%
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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.
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End-of-Day
-1.45%
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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%
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Modivcare Inc. announced that Stacy Saal has stepped down from the Board of Directors to focus on new professional endeavors. The company expressed gratitude for her contributions and stated that the Board has decreased in size from ten to nine directors.
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Modivcare Inc. to report Q3 2023 financial results on November 2, 2023.
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-2.43%
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ThoroughCare partners with Higi to improve remote patient monitoring. ThoroughCare demonstrates operational growth and success. ThoroughCare's platform improves patient care and streamlines workflow for healthcare providers. ThoroughCare expands with new partnerships and a new location in Pittsburgh. ThoroughCare offers competitive compensation and career advancement opportunities.
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-0.83%
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Modivcare's CEO to participate in fireside chat at Deutsche Bank conference
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-3.48%
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Modivcare successfully implemented the Genesys Cloud CX Platform, improving member care experience and driving efficiencies. Key highlights include a 67% improvement in rides booked through automation and a $30-50 million cost reduction initiative over the next 12-18 months.
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-0.74%
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Modivcare appoints Henry Toledo as Chief People Officer
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-9.9%
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ModivCare Inc.
Nasdaq:MODV
MODV Rankings
MODV Stock Data
388.24M
11.05M
1.91%
106.04%
9.04%
Other Individual and Family Services
Health Care and Social Assistance
United States of America
DENVER
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.