Zacks Investment Research Downgrades Augmedix (OTCMKTS:AUGX) to Hold

Augmedix (OTCMKTS:AUGXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Augmedix Inc. is a provider of remote medical documentation and live clinical support. Augmedix Inc. is based in SAN FRANCISCO, Calif. “

Separately, Lake Street Capital assumed coverage on shares of Augmedix in a research note on Monday, March 7th. They set a “buy” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.85.

AUGX traded down $0.19 on Monday, hitting $2.20. The company had a trading volume of 42,330 shares, compared to its average volume of 29,742. The stock has a market capitalization of $82.28 million and a price-to-earnings ratio of -3.67. The stock has a fifty day moving average price of $2.68 and a 200-day moving average price of $2.96. Augmedix has a 12-month low of $1.95 and a 12-month high of $6.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.60 and a current ratio of 3.04.

Augmedix (OTCMKTS:AUGXGet Rating) last released its quarterly earnings results on Wednesday, March 30th. The company reported ($0.16) earnings per share (EPS) for the quarter. The firm had revenue of $6.58 million during the quarter. Augmedix had a negative return on equity of 251.74% and a negative net margin of 77.52%. Analysts forecast that Augmedix will post -0.61 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Redmile Group LLC acquired a new position in shares of Augmedix in the fourth quarter worth about $45,298,000. DCM International VI Ltd. acquired a new position in Augmedix in the 4th quarter worth about $13,980,000. American Financial Group Inc. purchased a new position in Augmedix during the fourth quarter worth approximately $1,575,000. Perkins Capital Management Inc. acquired a new stake in Augmedix in the fourth quarter valued at approximately $1,351,000. Finally, Samjo Capital LLC purchased a new stake in shares of Augmedix in the first quarter valued at approximately $779,000. Institutional investors own 59.03% of the company’s stock.

Augmedix Company Profile (Get Rating)

Augmedix, Inc provides remote medical documentation solutions and live clinical support services in the United States. Its platform offers Augmedix Live and Augmedix Notes solutions that provide pre-visit documentation, such as pre-charting and digitization of previous records/patient history; during-visit documentation, including medical notes, care gap reminders, HCC reminders, and after-visit summaries; and post-visit documentation consisting of coding, orders, and referrals.

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