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. The company also provides in-home and on-site care optimization services, including comprehensive health assessments through a network of community-based clinicians and a fleet of mobile health clinics. The company was formerly known as The Providence Service Corporation and changed its name to ModivCare Inc. in January 2021. The company was founded in 1996 and is headquartered in Denver, Colorado.
IPO Year: 2003
Exchange: NASDAQ
Website: modivcare.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/9/2024 | $35.00 | Mkt Perform → Outperform | Barrington Research |
| 5/6/2024 | $50.00 | Hold → Buy | Lake Street |
| 2/23/2024 | $60.00 → $40.00 | Buy → Hold | Deutsche Bank |
| 2/23/2024 | $60.00 → $39.00 | Buy → Hold | Jefferies |
| 8/3/2022 | $145.00 | Overweight | Stephens |
| 2/28/2022 | $190.00 → $155.00 | Outperform | Barrington Research |
| 2/3/2022 | $180.00 → $150.00 | Buy | Deutsche Bank |
| 12/17/2021 | $180.00 | Buy | Deutsche Bank |
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and nine months ended September 30, 2024. Third Quarter 2024 Summary: Service revenue of $702.0 million increased 2.2% from the third quarter of 2023 Net loss of $26.6 million, or negative $1.87 per diluted common share Adjusted EBITDA(1) of $43.2 million, adjusted net income(1) of $6.4 million and adjusted EPS(1) of $0.45 per diluted common share Cash provided by operating activities during the quarter of $9.3 million and
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, through its Higi service and in collaboration with the Michigan Center for Rural Health (MCRH), is proud to announce the successful completion of its 18-month Remote Patient Monitoring (RPM) pilot program designed to enhance healthcare delivery in three rural Michigan hospitals. The pilot, funded by the Michigan Health Endowment Fund's 2022 Special Projects and Emerging Ideas Initiative, was implemented with the goal of increasing digital health capacity and access to care for the
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the third quarter 2024 ended September 30, 2024, on Wednesday, November 6, 2024, after the market closes. Modivcare will host a conference call on Thursday, November 7, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 financial results. The conference call dial-in number for domestic callers is (888) 437-3179, and international callers should dial +1 (862) 298-0702. Interested parties may a
Technology-enabled healthcare services company orchestrates seamless digital self-service for its 34 million members and improves employee engagement with the Genesys Cloud platform Genesys®, a global cloud leader in AI-powered experience orchestration, announced Modivcare, a top provider of non-emergency medical transportation (NEMT), monitoring and personal in-home care, is transforming support for its 34 million members with the Genesys Cloud™ platform. To execute its digital-first strategy, Modivcare turned to the AI-powered experience orchestration capabilities of Genesys Cloud. Today, Genesys Cloud supports Modivcare teammates who efficiently and securely manage 2.2 million monthly c
ModivCare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that it has amended its Credit Agreement, dated February 3, 2022 (as amended to date, the "Credit Agreement"), with JPMorgan Chase Bank, N.A., as administrative agent, along with other key lenders. Key Amendment Highlights: Total Net Leverage Ratio Covenant: Increased for the quarter ended September 30, 2024, to 6.50x from 5.25x. Minimum Interest Coverage Ratio Covenant: Reduced for the quarter ended September 30, 2024, to 2.00x from 2.75x. This amendment ens
Modivcare Foundation, the philanthropic foundation of Modivcare (NASDAQ:MODV), is proud to highlight its support of Build Jake's Place, an organization dedicated to creating inclusive playgrounds for children and adults with disabilities. This contribution spotlights Modivcare's commitment to improving health outcomes and ensuring that everyone, regardless of ability, can engage in meaningful activities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240926105553/en/Modivcare and Build Jake's Place leaders gather to celebrate opening day of the Camden County NJ Miracle League (Photo: Business Wire) Build Jake's Place was founded
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today addressed its recent filings with the U.S. Securities and Exchange Commission ("SEC") and announced adjusted guidance. On September 12, 2024, the Company filed a Form S-3 shelf registration statement with the SEC, as well as a Form 8-K, providing additional information. Once declared effective by the SEC, the Form S-3 will provide the Company with flexibility to raise capital as needed over the next three years. The Company does not plan to issue equity at this time. The Compan
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, through its Higi service, highlights its partnership with the American College of Cardiology (ACC) to introduce the Caring Hearts Initiative in Camden County, New Jersey. This initiative aims to bring essential supportive care services to communities with significant health disparities. Caring Hearts is a grassroots, community-driven initiative designed to leverage the resources of national organizations like ACC and Modivcare, local community partners, and community corner store
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, is pleased to announce Portland resident Ben Fasulo has earned recognition as Modivcare Maine's Driver of the Month. Mr. Fasulo is a non-emergency medical transportation (NEMT) driver responsible for transporting Maine Medicaid members between their home and medical appointments, when those individuals have transportation barriers that would otherwise impact their ability to access healthcare. Since 2014, Modivcare has grown its NEMT provider network in Maine from 10 to more than
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and six months ended June 30, 2024. Second Quarter 2024 Summary: Service revenue of $698.3 million, remaining consistent with the second quarter of 2023 Net loss of $128.9 million or negative $9.07 per diluted common share Adjusted EBITDA(1) of $45.4 million, adjusted net loss(1) of $0.4 million and adjusted EPS(1) of negative $0.03 per diluted common share Cash used in operating activities during the quarter of $55.3 mil
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NEW YORK, March 27, 2024 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600: Solventum Corp. (NYSE:SOLV) will be added to the S&P 500 effective prior to the open of trading on Monday, April 1, replacing V.F. Corp. (NYSE:VFC), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Wednesday, April 3. V.F. will replace ModivCare Inc. (NASD: MODV) in the S&P SmallCap 600 also effective prior to the open of trading on April 3. S&P 500 and 100 constituent 3M Co. (NYSE:MMM) is spinning off Solventum in a transaction expected to be completed April 1. Following the spin-off, the parent 3M will rema
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced the appointment of Jeff Bennett as Chief Strategy and Innovation Officer and Seth Ravine as Chief Commercial Officer, effective December 2023. "I am incredibly excited for the appointment of these two positions, underscoring our commitment to building a top-notch leadership team that will steer Modivcare's strategic course and drive success in this dynamic landscape," said Heath Sampson, President and CEO of Modivcare. "The addition of Jeff and Seth's roles reinfo
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Stacy Saal has stepped down from the Board of Directors in order to dedicate more time to her new professional endeavors. "We are grateful for Stacy's contributions to Modivcare and we wish her the best as she turns to her next chapter and pursues a number of exciting projects," said Chris Shackelton, Chairman of Modivcare's Board of Directors. "From her first day on the Board, Stacy was dedicated to driving value for shareholders. The experience, diligence,
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Henry "Enrique" Toledo was appointed as its Chief People Officer, effective today. Mr. Toledo will be responsible for overseeing all aspects of human resources, talent management, and organizational development at Modivcare. "I am thrilled to welcome Enrique to Modivcare and our executive leadership team as our new Chief People Officer," said L. Heath Sampson, Chief Executive Officer. "As an established HR and Operations leader with significant experience org
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Barbara Gutierrez has agreed to join Modivcare as its Chief Financial Officer (CFO) with an expected start date of September 18, 2023. "I am delighted to announce the appointment of Barbara Gutierrez as our new Chief Financial Officer. Barb is an established finance leader within the healthcare industry, and I am confident that she will help Modivcare drive results as we advance our journey to becoming One Modivcare," said L. Heath Sampson, Chief Executive Of
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced the appointment of Jessica Kral as Chief Information Officer (CIO). "We continue to build a strong, experienced, diverse, and talented executive leadership team and I am confident that the addition of Jessica Kral as our Chief Information Officer will take our IT capabilities to the next level with her experience transforming large healthcare companies as they scaled operations," said L. Heath Sampson, President and Chief Executive Officer of Modivcare. "Jessica i
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced the appointment of Anne Bailey as President of its Home division. "I am confident Anne is the right leader for our Home division as we expand our geographic footprint, enhance customer relationships, and drive innovative growth solutions," said L. Heath Sampson, President and Chief Executive Officer of Modivcare. "To advance our growth strategy and become One Modivcare, we must align our people, processes, and technology, which includes investing in the best talent
Chief Financial Officer L. Heath Sampson Appointed Interim Chief Executive Officer Board Initiates Search for Permanent Successor Modivcare Inc., (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company's Chief Financial Officer, L. Heath Sampson, has been appointed Interim Chief Executive Officer, effective immediately. In connection with this announcement, Daniel E. Greenleaf is no longer serving as Chief Executive Officer and a member of the Company's Board of Directors. The Modivcare Board has commenced a search
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the appointment of Kevin Ellich as Head of Investor Relations. Dan Greenleaf, Modivcare's President and Chief Executive Officer, commented, "Kevin brings to Modivcare in-depth healthcare industry knowledge, financial and analytical acumen, strong Wall Street relationships, and practical experience managing successful investor relations programs. Kevin's appointment as Modivcare's Vice President, Head of Investor Relations reflects our commitment to strengthening f
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the appointment of Brett Hickman as the Company's Chief Commercial Officer. In this role, Mr. Hickman will be integral to Modivcare's commercial strategy to cross-sell its integrated platform of supportive care solutions that address the social determinants of health, as well as drive organic revenue growth and maintain the Company's existing customer base. Dan Greenleaf, Modivcare's Chief Executive Officer, commented, "Brett is an accomplished healthcare executiv
Lake Street analyst Brooks O'Neil upgrades ModivCare (NASDAQ:MODV) from Hold to Buy and maintains $50 price target.
U.S. stocks were higher, with the Dow Jones index gaining over 400 points on Friday. Shares of Amgen Inc. (NASDAQ:AMGN) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results. Also, the company announced a $50 million milestone payment from Royalty Pharma. Amgen reported quarterly earnings of $3.96 per share, which beat the analyst consensus estimate of $3.87 by 2.33%. The company said EPS decreased by 1% due to higher operating and interest expenses driven by the Horizon acquisition, partially offset by higher revenues, according to data from Benzinga Pro. The company reported quarterly sales of $7.447 billion, which bea
ModivCare (NASDAQ:MODV) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $0.19 by 147.37 percent. This is a 106.34 percent decrease over earnings of $1.42 per share from the same period last year. The company reported quarterly sales of $684.451 million which beat the analyst consensus estimate of $663.869 million by 3.10 percent. This is a 3.34 percent increase over sales of $662.306 million the same period last year.
ModivCare is no longer representative of the small-cap market space
Barrington Research upgraded ModivCare from Mkt Perform to Outperform and set a new price target of $35.00
Lake Street upgraded ModivCare from Hold to Buy and set a new price target of $50.00
Deutsche Bank downgraded ModivCare from Buy to Hold and set a new price target of $40.00 from $60.00 previously
Jefferies downgraded ModivCare from Buy to Hold and set a new price target of $39.00 from $60.00 previously
Stephens initiated coverage of ModivCare with a rating of Overweight and set a new price target of $145.00
Barrington Research reiterated coverage of ModivCare with a rating of Outperform and set a new price target of $155.00 from $190.00 previously
Deutsche Bank reiterated coverage of ModivCare with a rating of Buy and set a new price target of $150.00 from $180.00 previously
Deutsche Bank initiated coverage of ModivCare with a rating of Buy and set a new price target of $180.00
Barrington Research reiterated coverage of ModivCare with a rating of Outperform and set a new price target of $170.00 from $162.00 previously
Barrington Research reiterated coverage of ModivCare with a rating of Buy and set a new price target of $170.00 from $162.00 previously
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and nine months ended September 30, 2024. Third Quarter 2024 Summary: Service revenue of $702.0 million increased 2.2% from the third quarter of 2023 Net loss of $26.6 million, or negative $1.87 per diluted common share Adjusted EBITDA(1) of $43.2 million, adjusted net income(1) of $6.4 million and adjusted EPS(1) of $0.45 per diluted common share Cash provided by operating activities during the quarter of $9.3 million and
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the third quarter 2024 ended September 30, 2024, on Wednesday, November 6, 2024, after the market closes. Modivcare will host a conference call on Thursday, November 7, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 financial results. The conference call dial-in number for domestic callers is (888) 437-3179, and international callers should dial +1 (862) 298-0702. Interested parties may a
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and six months ended June 30, 2024. Second Quarter 2024 Summary: Service revenue of $698.3 million, remaining consistent with the second quarter of 2023 Net loss of $128.9 million or negative $9.07 per diluted common share Adjusted EBITDA(1) of $45.4 million, adjusted net loss(1) of $0.4 million and adjusted EPS(1) of negative $0.03 per diluted common share Cash used in operating activities during the quarter of $55.3 mil
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the second quarter 2024 ended June 30, 2024, on Wednesday, August 7, 2024, after the market closes. Modivcare will host a conference call on Thursday, August 8, 2024, at 8:30 a.m. Eastern Time to discuss second quarter 2024 financial results. The conference call dial-in number for domestic callers is (888) 645-4404, and international callers should dial +1 (862) 298-0702. Interested parties may also a
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2024. First Quarter 2024 Summary: Service revenue of $684.5 million increased 3.3% from the first quarter of 2023 Net loss of $22.3 million or $1.57 per diluted common share Adjusted EBITDA(1) of $32.1 million, adjusted net loss(1) of $1.2 million and adjusted EPS(1) of negative $0.09 per diluted common share Cash provided by operating activities during the quarter of $9.6 million and free cash flow
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the first quarter 2024 ended March 31, 2024, on Thursday, May 2, 2024, after the market closes. Modivcare will host a conference call on Friday, May 3, 2024, at 8:30 a.m. Eastern Time to discuss first quarter 2024 financial results. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also access the
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months and full year ended December 31, 2023. Fourth Quarter 2023 Summary: Service revenue of $702.8 million, a 7.5% increase as compared to $653.9 million in the fourth quarter of 2022 Net loss of $5.3 million, or $0.37 per diluted common share Adjusted EBITDA(1) of $50.5 million, adjusted net income(1) of $18.4 million and adjusted EPS(1) of $1.29 per diluted common share Net cash used in operating activities during the q
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the fourth quarter and full year ended December 31, 2023, on Thursday, February 22, 2024, after the market closes. Modivcare will host a conference call on Friday, February 23, 2024, at 8:30 a.m. Eastern Time to discuss fourth quarter and full year 2023 financial results. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037.
Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three and nine months ended September 30, 2023. Third Quarter 2023 Highlights: Service revenue of $686.9 million, a 6.0% increase as compared to $647.8 million in the third quarter of 2022 Net loss of $4.3 million or $0.30 per diluted common share Adjusted EBITDA(1) of $51.3 million, adjusted net income(1) of $20.5 million and adjusted EPS(1) of $1.44 per diluted common share Cash provided by operating activities during the qua
Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the third quarter ended September 30, 2023, on Thursday, November 2, 2023, after the market closes. Modivcare will host a conference call on Friday, November 3, 2023, at 8:30 a.m. Eastern Time to discuss third quarter 2023 financial results. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also ac
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