Russell Investments Group Ltd. Acquires Shares of 35,105 DocGo Inc. (NASDAQ:DCGO)

Russell Investments Group Ltd. bought a new stake in shares of DocGo Inc. (NASDAQ:DCGO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 35,105 shares of the company’s stock, valued at approximately $196,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DCGO. Victory Capital Management Inc. acquired a new stake in DocGo during the third quarter valued at approximately $55,000. Envestnet Portfolio Solutions Inc. bought a new position in DocGo during the third quarter worth $67,000. Worth Venture Partners LLC boosted its holdings in DocGo by 36.3% in the third quarter. Worth Venture Partners LLC now owns 16,028 shares of the company’s stock worth $85,000 after purchasing an additional 4,265 shares during the period. B. Riley Asset Management LLC bought a new stake in DocGo during the third quarter valued at $99,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of DocGo by 385.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,645 shares of the company’s stock worth $121,000 after purchasing an additional 17,189 shares during the period. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

DocGo Stock Performance

NASDAQ:DCGO opened at $2.94 on Friday. The stock has a market cap of $298.62 million, a price-to-earnings ratio of 14.70, a PEG ratio of 1.50 and a beta of 0.96. DocGo Inc. has a 1 year low of $2.78 and a 1 year high of $10.82. The business has a fifty day moving average of $3.54 and a 200-day moving average of $4.20.

DocGo (NASDAQ:DCGO) last announced its earnings results on Wednesday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). DocGo had a net margin of 2.98% and a return on equity of 6.20%. The company had revenue of $199.25 million during the quarter, compared to the consensus estimate of $195.48 million. On average, equities research analysts predict that DocGo Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DCGO shares. BTIG Research lowered their price objective on shares of DocGo from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC dropped their price target on DocGo from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Cantor Fitzgerald reduced their price objective on DocGo from $11.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Canaccord Genuity Group lowered their price objective on DocGo from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Stifel Nicolaus cut their target price on DocGo from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $7.75.

Insider Activity at DocGo

In other news, General Counsel Ely D. Tendler bought 10,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $3.13 per share, for a total transaction of $31,300.00. Following the completion of the transaction, the general counsel now directly owns 162,933 shares of the company’s stock, valued at approximately $509,980.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DocGo news, General Counsel Ely D. Tendler purchased 10,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $3.13 per share, with a total value of $31,300.00. Following the acquisition, the general counsel now owns 162,933 shares of the company’s stock, valued at $509,980.29. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lee Bienstock acquired 25,000 shares of DocGo stock in a transaction dated Monday, May 13th. The shares were acquired at an average price of $3.15 per share, with a total value of $78,750.00. Following the transaction, the chief executive officer now owns 1,220,845 shares in the company, valued at approximately $3,845,661.75. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock worth $146,150 over the last quarter. 13.78% of the stock is currently owned by company insiders.

About DocGo

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.