William Blair Downgrades Augmedix (NASDAQ:AUGX) to Hold

William Blair downgraded shares of Augmedix (NASDAQ:AUGX) from a strong-buy rating to a hold rating in a research note released on Friday, Zacks.com reports.

AUGX has been the subject of a number of other research reports. B. Riley lowered Augmedix from a strong-buy rating to a hold rating and decreased their target price for the stock from $3.00 to $2.35 in a research report on Friday. Lake Street Capital reaffirmed a hold rating on shares of Augmedix in a research report on Monday. Maxim Group lowered shares of Augmedix from a buy rating to a hold rating and set a $5.00 price target for the company. in a research report on Tuesday, May 14th. Finally, Evercore ISI lowered shares of Augmedix from an outperform rating to an inline rating and reduced their price target for the company from $5.00 to $1.50 in a research report on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $3.09.

Augmedix Stock Performance

Shares of Augmedix stock opened at $2.27 on Friday. Augmedix has a 1 year low of $0.73 and a 1 year high of $6.25. The firm’s 50-day moving average is $1.00 and its 200 day moving average is $2.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market cap of $111.16 million, a price-to-earnings ratio of -5.28 and a beta of -0.27.

Augmedix (NASDAQ:AUGX) last issued its earnings results on Monday, May 13th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Augmedix had a negative return on equity of 178.34% and a negative net margin of 41.95%. The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $13.25 million. Sell-side analysts anticipate that Augmedix will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Augmedix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUGX. Citigroup Inc. purchased a new stake in Augmedix in the 3rd quarter worth approximately $241,000. Perkins Capital Management Inc. increased its holdings in Augmedix by 5.3% in the 4th quarter. Perkins Capital Management Inc. now owns 1,464,568 shares of the company’s stock worth $8,568,000 after acquiring an additional 73,475 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Augmedix by 9.0% in the 4th quarter. Vontobel Holding Ltd. now owns 188,815 shares of the company’s stock worth $1,105,000 after acquiring an additional 15,606 shares in the last quarter. Calamos Advisors LLC purchased a new stake in Augmedix in the 4th quarter worth approximately $886,000. Finally, Russell Investments Group Ltd. increased its holdings in Augmedix by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 891,077 shares of the company’s stock worth $5,213,000 after acquiring an additional 663,778 shares in the last quarter. 87.11% of the stock is owned by hedge funds and other institutional investors.

About Augmedix

Augmedix, Inc provides remote medical documentation solutions and live clinical support services in the United States. Its platform offers Augmedix Live that provides synchronous medical note documentation and point of care support; Augmedix Go Assist that offers asynchronous medical documentation based upon previously recorded visits; Augmedix Prep that provides patient demographics, past medical history, medication changes and other points from the patient's health record; and Augmedix Go, an autonomous, ambient AI mobile software application that offers fully automated medical documentation based upon recorded visits.