In recent financial activity at DocGo Inc. (NASDAQ:DCGO), a $447 million healthcare logistics company currently rated with GREAT financial health according to InvestingPro, Director Leite Etalvina executed a sale of 16,500 shares of common stock on December 17, 2024. The transaction was completed at a price of $4.34 per share, resulting in a total sale value of $71,610.
The sale was conducted to cover taxes associated with the vesting of restricted stock units (RSUs), which were originally granted to Etalvina on December 12, 2023. Following this transaction, Etalvina holds 51,411 shares of DocGo. The company's stock, which appears undervalued based on comprehensive analysis, has shown strong momentum with a 43% gain over the past six months.
Earlier, on December 13, 2024, Etalvina acquired 34,965 shares of common stock through the vesting of RSUs, as part of DocGo's 2021 Stock Incentive Plan. These RSUs will fully vest on December 13, 2025, subject to the plan's terms. Notably, InvestingPro data reveals management has been actively buying back shares, with 11 additional key insights available to subscribers.
In other recent news, DocGo Inc. has reported a 26% decline in third-quarter revenue for 2024, falling to $138.7 million due to the cessation of migrant-related projects. Despite this, the company showed strong performance across customer verticals and a significant increase in care gap closure programs. The company's CEO, Lee Bienstock, revised the revenue guidance for 2024 to $620 million to $630 million, with an adjusted EBITDA of $70 million to $75 million.
DocGo also announced its expansion into Mississippi through its subsidiary, Cardiac RMS, signing a contract with a major hospital system in the region. This expansion, set to commence in early 2025, will introduce remote monitoring services for nearly 3,000 patients with cardiac implantable electronic devices. Moreover, through its subsidiary EMS Direct, DocGo secured a new contract to provide ambulance transport services to a major health and hospital system in North Texas.
These recent developments underline DocGo's focus on expanding its healthcare services and technology offerings. Analysts from InvestingPro gave the company a "GREAT" overall rating, indicating its strong financial health. As part of its leadership strategy, DocGo welcomed Dr. Stephen Klasko as the new Chair of the Board. The company anticipates its cash flow from operations to be between $90 million and $100 million for the full year 2024.
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