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Augmedix, Inc. (AUGX) Soars 7.6%: Is Further Upside Left in the Stock?
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Augmedix, Inc. (AUGX - Free Report) shares soared 7.6% in the last trading session to close at $5.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% gain over the past four weeks.
Augmedix scored a strong price increase, driven by investor’s optimism surrounding the company’s recent announcement of reaching agreements in principle, with respect to the strategic collaborations with three innovative digital health companies — Myndshft, Ellipsis Health and The Sullivan Group.
The partnership will broaden the benefits of Augmedix’s platform by incorporating prior authorization, clinical decision support and a system designed to reduce clinician exposure to diagnosis-related medical errors. This might have further boosted investor’s confidence in the stock.
This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $11.41 million, up 45.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Augmedix, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AUGX going forward to see if this recent jump can turn into more strength down the road.
Augmedix, Inc. is part of the Zacks Medical Info Systems industry. Cue Health Inc. , another stock in the same industry, closed the last trading session 3.1% lower at $0.43. HLTH has returned -31.9% in the past month.
For Cue Health Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.47. This represents a change of -9.3% from what the company reported a year ago. Cue Health Inc. currently has a Zacks Rank of #3 (Hold).
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Augmedix, Inc. (AUGX) Soars 7.6%: Is Further Upside Left in the Stock?
Augmedix, Inc. (AUGX - Free Report) shares soared 7.6% in the last trading session to close at $5.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 7.3% gain over the past four weeks.
Augmedix scored a strong price increase, driven by investor’s optimism surrounding the company’s recent announcement of reaching agreements in principle, with respect to the strategic collaborations with three innovative digital health companies — Myndshft, Ellipsis Health and The Sullivan Group.
The partnership will broaden the benefits of Augmedix’s platform by incorporating prior authorization, clinical decision support and a system designed to reduce clinician exposure to diagnosis-related medical errors. This might have further boosted investor’s confidence in the stock.
This company is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $11.41 million, up 45.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Augmedix, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AUGX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Augmedix, Inc. is part of the Zacks Medical Info Systems industry. Cue Health Inc. , another stock in the same industry, closed the last trading session 3.1% lower at $0.43. HLTH has returned -31.9% in the past month.
For Cue Health Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.47. This represents a change of -9.3% from what the company reported a year ago. Cue Health Inc. currently has a Zacks Rank of #3 (Hold).