Brokers Set Expectations for Augmedix, Inc.’s Q2 2024 Earnings (NASDAQ:AUGX)

Augmedix, Inc. (NASDAQ:AUGXFree Report) – Stock analysts at B. Riley lifted their Q2 2024 earnings estimates for Augmedix in a research report issued to clients and investors on Tuesday, May 14th. B. Riley analyst Y. Zhi now anticipates that the company will earn ($0.12) per share for the quarter, up from their prior estimate of ($0.13). B. Riley currently has a “Buy” rating and a $5.50 target price on the stock. The consensus estimate for Augmedix’s current full-year earnings is ($0.51) per share. B. Riley also issued estimates for Augmedix’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.11) EPS and FY2024 earnings at ($0.45) EPS.

Augmedix (NASDAQ:AUGXGet Free Report) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $12.68 million for the quarter, compared to analyst estimates of $12.30 million. Augmedix had a negative return on equity of 218.55% and a negative net margin of 41.95%.

Several other equities research analysts have also weighed in on the company. Maxim Group lowered Augmedix from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a research note on Tuesday. Lake Street Capital lowered their price target on Augmedix from $8.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Evercore ISI lowered Augmedix from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $5.00 to $1.50 in a research note on Tuesday.

Get Our Latest Stock Report on AUGX

Augmedix Stock Performance

NASDAQ AUGX opened at $1.19 on Thursday. The stock has a market cap of $58.27 million, a P/E ratio of -2.77 and a beta of 0.03. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.66. Augmedix has a twelve month low of $0.99 and a twelve month high of $6.25. The company’s 50-day simple moving average is $3.37 and its 200 day simple moving average is $4.45.

Insider Transactions at Augmedix

In other news, insider Ian Shakil sold 58,978 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $3.91, for a total transaction of $230,603.98. Following the sale, the insider now owns 180,034 shares in the company, valued at $703,932.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 251,323 shares of company stock valued at $1,005,527 in the last three months. 10.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Augmedix

A number of large investors have recently modified their holdings of the stock. Perkins Capital Management Inc. lifted its holdings in Augmedix by 5.3% in the fourth quarter. Perkins Capital Management Inc. now owns 1,464,568 shares of the company’s stock valued at $8,568,000 after buying an additional 73,475 shares during the period. Vanguard Group Inc. increased its stake in Augmedix by 16.0% in the first quarter. Vanguard Group Inc. now owns 1,302,424 shares of the company’s stock valued at $5,327,000 after purchasing an additional 179,534 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in Augmedix by 170.1% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,015,814 shares of the company’s stock worth $5,943,000 after buying an additional 639,732 shares during the period. Russell Investments Group Ltd. grew its position in shares of Augmedix by 292.0% in the 4th quarter. Russell Investments Group Ltd. now owns 891,077 shares of the company’s stock valued at $5,213,000 after purchasing an additional 663,778 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Augmedix by 31.1% during the first quarter. Essex Investment Management Co. LLC now owns 528,985 shares of the company’s stock worth $2,164,000 after acquiring an additional 125,457 shares in the last quarter. 87.11% of the stock is currently owned by institutional investors and hedge funds.

About Augmedix

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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.

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