The Manufacturers Life Insurance Company Raises Position in DocGo Inc. (NASDAQ:DCGO)

The Manufacturers Life Insurance Company grew its stake in DocGo Inc. (NASDAQ:DCGO) by 31.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,401 shares of the company’s stock after purchasing an additional 9,696 shares during the period. The Manufacturers Life Insurance Company’s holdings in DocGo were worth $125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marathon Capital Management raised its stake in shares of DocGo by 2.3% in the second quarter. Marathon Capital Management now owns 277,100 shares of the company’s stock valued at $856,000 after acquiring an additional 6,285 shares during the period. Deerfield Management Company L.P. Series C grew its holdings in DocGo by 41.0% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 7,195,956 shares of the company’s stock valued at $22,236,000 after purchasing an additional 2,091,569 shares during the last quarter. AQR Capital Management LLC raised its position in DocGo by 58.5% in the 2nd quarter. AQR Capital Management LLC now owns 344,963 shares of the company’s stock worth $1,066,000 after purchasing an additional 127,320 shares during the period. Squarepoint Ops LLC raised its position in DocGo by 43.8% in the 2nd quarter. Squarepoint Ops LLC now owns 224,197 shares of the company’s stock worth $693,000 after purchasing an additional 68,264 shares during the period. Finally, Marshall Wace LLP lifted its stake in DocGo by 212.4% in the second quarter. Marshall Wace LLP now owns 505,514 shares of the company’s stock worth $1,562,000 after purchasing an additional 343,692 shares during the last quarter. Hedge funds and other institutional investors own 56.44% of the company’s stock.

DocGo Stock Up 0.3 %

Shares of NASDAQ DCGO opened at $3.40 on Monday. DocGo Inc. has a twelve month low of $2.75 and a twelve month high of $6.90. The business has a fifty day simple moving average of $3.46 and a two-hundred day simple moving average of $3.32. The firm has a market cap of $345.32 million, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

DocGo (NASDAQ:DCGO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). DocGo had a return on equity of 8.90% and a net margin of 3.97%. The business had revenue of $164.95 million during the quarter, compared to analysts’ expectations of $166.61 million. On average, research analysts expect that DocGo Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on DCGO. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of DocGo in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of DocGo in a report on Friday, September 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, DocGo presently has a consensus rating of “Buy” and a consensus target price of $6.10.

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.