Goldman Sachs Group Inc. Trims Stock Holdings in DocGo Inc. $DCGO

Key Points

• Goldman Sachs Group Inc. reduced its stake in DocGo Inc. by 60.7%, now holding 266,538 shares valued at $704,000.
• DocGo's stock opened at $1.46, with a market cap of $142.80 million and a 52-week range of $1.23 to $5.68.
• The company's recent earnings report showed a loss of ($0.11) earnings per share, missing expectations, while revenue was $80.42 million, surpassing forecasts.

Goldman Sachs Group Inc. cut its holdings in shares of DocGo Inc. (NASDAQ:DCGO - Free Report) by 60.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,538 shares of the company's stock after selling 411,770 shares during the period. Goldman Sachs Group Inc. owned 0.26% of DocGo worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DCGO. Summit Securities Group LLC acquired a new stake in DocGo during the 1st quarter worth $34,000. Strs Ohio acquired a new position in DocGo in the first quarter valued at $76,000. ProShare Advisors LLC raised its holdings in shares of DocGo by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 28,641 shares of the company's stock valued at $121,000 after buying an additional 9,425 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of DocGo during the fourth quarter worth about $123,000. Finally, Penn Capital Management Company LLC grew its holdings in shares of DocGo by 257.8% during the first quarter. Penn Capital Management Company LLC now owns 48,774 shares of the company's stock worth $129,000 after buying an additional 35,142 shares during the last quarter. 56.44% of the stock is owned by institutional investors and hedge funds.

DocGo Stock Performance

DCGO stock opened at $1.46 on Thursday. The stock has a market capitalization of $142.80 million, a PE ratio of -7.68 and a beta of 0.97. The company has a fifty day moving average of $1.53 and a 200-day moving average of $1.83. DocGo Inc. has a one year low of $1.23 and a one year high of $5.68.

DocGo (NASDAQ:DCGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $80.42 million for the quarter, compared to analysts' expectations of $77.58 million. DocGo had a negative return on equity of 3.26% and a negative net margin of 4.20%. DocGo has set its FY 2025 guidance at EPS. Equities analysts forecast that DocGo Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price objective on DocGo from $1.45 to $1.60 and gave the company a "hold" rating in a research note on Thursday, August 21st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $3.24.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.