DCGO - This Healthcare Stock Is Up Big Following $36M Share Buyback Approval

2024-01-31 13:14:50 ET

A New York-based healthcare company is turning heads on Wednesday after it was announced that the company had received board approval to repurchase up to $36 million of its common stock through July 30.

As you very well may know, this is the opposite of a dilutive action by the company, and theoretically should lead to share price appreciation if done appropriately. Traders tended to agree with that as shares of %DocGo (Nasdaq:DCGO) climbed up to $4.10/share (+20.23%) at the early session high.

DocGo Inc is a provider of last-mile mobile health services and integrated medical mobility solutions. DocGo is disrupting the traditional four-wall healthcare system by providing care at the scale of humanity. Its innovative technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace.