Ritholtz Wealth Management Takes $316,000 Position in DocGo Inc. (NASDAQ:DCGO)

Ritholtz Wealth Management acquired a new stake in DocGo Inc. (NASDAQ:DCGO) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 119,803 shares of the company’s stock, valued at approximately $316,000. Ritholtz Wealth Management owned about 0.12% of DocGo as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of DocGo by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,014,375 shares of the company’s stock valued at $21,261,000 after purchasing an additional 14,454 shares during the last quarter. Northern Trust Corp raised its holdings in shares of DocGo by 24.9% in the fourth quarter. Northern Trust Corp now owns 1,606,139 shares of the company’s stock valued at $6,810,000 after purchasing an additional 320,133 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of DocGo by 14.3% in the fourth quarter. Franklin Resources Inc. now owns 1,370,819 shares of the company’s stock valued at $5,812,000 after purchasing an additional 171,733 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of DocGo by 2.7% in the first quarter. Harbor Capital Advisors Inc. now owns 1,368,468 shares of the company’s stock valued at $3,613,000 after purchasing an additional 36,540 shares during the last quarter. Finally, Birchview Capital LP raised its holdings in shares of DocGo by 48.4% in the fourth quarter. Birchview Capital LP now owns 764,062 shares of the company’s stock valued at $3,240,000 after purchasing an additional 249,062 shares during the last quarter. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DCGO shares. Stifel Nicolaus lowered their price objective on shares of DocGo from $6.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group restated a “hold” rating and set a $1.45 target price (down from $5.00) on shares of DocGo in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft downgraded shares of DocGo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $5.00 to $2.85 in a report on Friday, February 28th. Needham & Company LLC lowered their target price on shares of DocGo from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, BTIG Research downgraded shares of DocGo from a “buy” rating to a “neutral” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, DocGo has an average rating of “Moderate Buy” and an average target price of $3.56.

DocGo Trading Down 1.9%

Shares of DCGO opened at $1.59 on Friday. The company has a market cap of $162.15 million, a price-to-earnings ratio of -79.50 and a beta of 0.94. DocGo Inc. has a 1-year low of $1.23 and a 1-year high of $5.68. The company’s fifty day simple moving average is $1.76 and its 200 day simple moving average is $3.17.

DocGo (NASDAQ:DCGO) last issued its earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). DocGo had a positive return on equity of 2.52% and a negative net margin of 0.12%. The firm had revenue of $96.03 million for the quarter, compared to analyst estimates of $104.25 million. As a group, research analysts forecast that DocGo Inc. will post 0.25 earnings per share for the current year.

DocGo Profile

DocGo Inc provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include emergency response services; and non-emergency transport services comprise ambulance and wheelchair transportation services.