Next Century Growth Investors, LLC, an investment Management Company, released its “Micro-Cap Strategy” fourth-quarter investor letter. A copy of the letter can be downloaded here. The recent surge in the stock market highlights the significance of current macroeconomic indicators and the Fed’s outlook on future interest rates. The strategy returned 9.54% (net of fees) compared to 15.63% for the Russell Microcap® Growth Index. Over the trailing year, the strategy returned 10.15% compared to 9.10% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
NCG Micro-Cap Strategy featured stocks like Augmedix, Inc. (NASDAQ:AUGX) in the Q4 2023 investor letter. Headquartered in San Francisco, California, Augmedix, Inc. (NASDAQ:AUGX) offers remote medical documentation solutions and live clinical support services. On April 1, 2024, Augmedix, Inc. (NASDAQ:AUGX) stock closed at $4.02 per share. One-month return of Augmedix, Inc. (NASDAQ:AUGX) was -1.71%, and its shares gained 135.09% of their value over the last 52 weeks. Augmedix, Inc. (NASDAQ:AUGX) has a market capitalization of $195.192 million.
NCG Micro-Cap Strategy stated the following regarding Augmedix, Inc. (NASDAQ:AUGX) in its fourth quarter 2023 investor letter:
“Augmedix, Inc. (NASDAQ:AUGX) is a healthcare technology company that offers a range of medical documentation solutions for clinicians. By relieving the burden of medical note taking on clinicians, AUGX solutions help address key pain points in the healthcare industry of clinician burnout and patient dissatisfaction. Clinicians can spend more time with patients and less time behind a computer. AUGX has been delivering strong growth with their current solutions and is developing an enhanced offering leveraging AI technology to fully automate medical documentation, which could further open up the growth opportunity for the company. First Watch Restaurant Group (FWRG) owns and operates full-service daytime restaurants serving breakfast, brunch, and lunch. The company differentiates itself from regional and legacy family diners by offering an innovative menu consisting of fresh and quality ingredients combined with exceptional service. A unique “one shift per day” operating schedule helps drive strong service while generating healthy unit-level economics. FWRG has opened over 500 restaurants to date and believes it can have over 2000 restaurants in the US over time.”
A medical professional interacting with a touch-screen device, emphasizing the company’s modern approach to patient care.
Augmedix, Inc. (NASDAQ:AUGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Augmedix, Inc. (NASDAQ:AUGX) was held by 26 hedge fund portfolios, compared to 12 in the previous quarter, according to our database.
We discussed Augmedix, Inc. (NASDAQ:AUGX) in another article and shared the list of stocks George Soros and insiders are crazy about. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 20 Best Personal Finance Podcasts in 2024
- 15 Best States for Retirement in the US in 2024
- 20 Foods To Reduce Cancer Risk
Disclosure: None. This article is originally published at Insider Monkey.
