Bank of New York Mellon Corp Acquires 99,359 Shares of DocGo Inc. (NASDAQ:DCGO)

Bank of New York Mellon Corp lifted its holdings in shares of DocGo Inc. (NASDAQ:DCGO) by 40.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,761 shares of the company’s stock after purchasing an additional 99,359 shares during the quarter. Bank of New York Mellon Corp’s holdings in DocGo were worth $1,062,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Gladius Capital Management LP bought a new position in DocGo in the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC lifted its position in DocGo by 693.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,089 shares of the company’s stock valued at $37,000 after acquiring an additional 10,565 shares in the last quarter. SG Americas Securities LLC acquired a new position in DocGo in the 2nd quarter worth $60,000. Cape Investment Advisory Inc. bought a new position in DocGo during the 4th quarter worth about $63,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of DocGo in the 1st quarter valued at about $64,000. Institutional investors own 56.44% of the company’s stock.

DocGo Price Performance

DocGo stock opened at $3.48 on Friday. The company has a market cap of $353.45 million, a price-to-earnings ratio of 17.40, a P/E/G ratio of 3.02 and a beta of 0.92. The firm has a 50-day moving average of $3.49 and a 200-day moving average of $3.41. DocGo Inc. has a one year low of $2.75 and a one year high of $6.90.

DocGo (NASDAQ:DCGO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $164.95 million for the quarter, compared to analyst estimates of $166.61 million. DocGo had a net margin of 3.97% and a return on equity of 8.90%. As a group, sell-side analysts expect that DocGo Inc. will post 0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DCGO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of DocGo in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of DocGo in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, DocGo currently has an average 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.