Victory Capital Management Inc. has significantly amplified its stake in DocGo Inc., a move that highlights the dynamic nature of institutional investment in the current market landscape. This substantial increase in holdings by a major investment firm underscores a notable confidence in the mobile health and medical transportation provider, DocGo Inc., whose services span across the United States and the United Kingdom, offering critical emergency and non-emergency transport solutions.
During the first quarter, Victory Capital Management Inc. impressively grew its DocGo stock position by 546.1%, accumulating an additional 314,838 shares. Following this aggressive acquisition, the firm now commands 372,487 shares of the company’s stock, valued at approximately $983,000 at the close of the most recent quarter, making it a prominent institutional investor in DCGO.
Beyond Victory Capital, several other large investment firms have also adjusted their DocGo stock portfolios. Vanguard Group Inc. modestly increased its position by 0.3% in the fourth quarter, now holding over 5 million shares worth $21.26 million. P.A.W. Capital Corp and Northern Trust Corp each raised their holdings by approximately 25% in the first and fourth quarters respectively, demonstrating a broad interest among institutional investors. Franklin Resources Inc. and Harbor Capital Advisors Inc. also augmented their stakes, collectively resulting in 56.44% of DCGO stock being owned by these large institutional entities.
Amidst this flurry of institutional investment activity, equities research analysts have offered varied perspectives on DocGo’s future. BTIG Research shifted its stance from a “buy” to a “neutral” rating, while Needham & Company LLC lowered its target price for DCGO from $4.00 to $3.00, maintaining a “buy” rating. Canaccord Genuity Group also reissued a “hold” rating, revising its price objective downwards from $5.00 to $1.45.
Despite some cautious adjustments, the overall sentiment among analysts, based on MarketBeat data, remains cautiously optimistic. DocGo currently holds an average rating of “Moderate Buy,” with an average target price of $3.56. This stock market analysis reflects a divided but generally favorable outlook on the company’s prospects given its recent performance and market position.
From a financial standpoint, DCGO stock opened at $1.36 on a recent Friday, reflecting current market valuations. The company’s 50-day moving average price stands at $1.50, while its 200-day moving average is $2.63. With a market capitalization of $138.69 million, a price-to-earnings ratio of -68.00, and a beta of 0.97, DocGo’s financial metrics provide a comprehensive picture of its stability and risk profile within the healthcare sector.
DocGo’s latest earnings report, released on Thursday, May 8th, revealed a quarterly earnings per share of ($0.09), which unfortunately missed analysts’ consensus estimates of ($0.01) by a significant margin. Despite this, the company reported revenue of $96.03 million for the quarter, falling short of analysts’ expectations of $104.25 million. Analysts on average predict that DocGo Inc. will post an earnings per share of 0.25 for the current fiscal year, highlighting future expectations for the company’s financial turnaround.
DocGo Inc. specializes in providing mobile health and medical transportation services, playing a crucial role in modern healthcare delivery. Their comprehensive services include essential emergency response as well as non-emergency transport options, such as ambulance and wheelchair transportation, serving a diverse range of healthcare providers. This vital service offering underpins the company’s market relevance and potential for long-term growth.
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