Deerfield Management Company L.P. Series C Reduces Stake in DocGo Inc. (NASDAQ:DCGO)

Deerfield Management Company L.P. Series C decreased its stake in shares of DocGo Inc. (NASDAQ:DCGO - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,195,956 shares of the company's stock after selling 1,870,182 shares during the period. Deerfield Management Company L.P. Series C owned approximately 7.05% of DocGo worth $30,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DCGO. JPMorgan Chase & Co. raised its holdings in shares of DocGo by 151.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 109,855 shares of the company's stock worth $365,000 after purchasing an additional 66,097 shares in the last quarter. Matrix Asset Advisors Inc. NY purchased a new position in DocGo in the fourth quarter valued at about $424,000. Barclays PLC increased its position in DocGo by 14.5% in the 4th quarter. Barclays PLC now owns 154,456 shares of the company's stock worth $655,000 after purchasing an additional 19,533 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of DocGo by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,014,375 shares of the company's stock worth $21,261,000 after purchasing an additional 14,454 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of DocGo by 4.5% in the 4th quarter. Rhumbline Advisers now owns 142,762 shares of the company's stock valued at $605,000 after buying an additional 6,204 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

Analyst Upgrades and Downgrades

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

DocGo Price Performance

NASDAQ:DCGO traded up $0.09 during mid-day trading on Tuesday, reaching $1.53. The stock had a trading volume of 1,984,423 shares, compared to its average volume of 779,387. DocGo Inc. has a 12 month low of $1.35 and a 12 month high of $5.68. The stock has a 50-day simple moving average of $2.48 and a two-hundred day simple moving average of $3.67. The stock has a market capitalization of $156.03 million, a PE ratio of 5.46, a P/E/G ratio of 14.16 and a beta of 1.14.

DocGo (NASDAQ:DCGO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The company had revenue of $96.03 million for the quarter, compared to analyst estimates of $104.25 million. DocGo had a return on equity of 8.90% and a net margin of 4.35%. Equities analysts expect that DocGo Inc. will post 0.25 EPS for the current year.

DocGo Company 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.