Capital Fund Management S.A. Acquires 108,937 Shares of Doximity, Inc. $DOCS

Capital Fund Management S.A. grew its holdings in Doximity, Inc. (NYSE:DOCS) by 252.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,173 shares of the company’s stock after acquiring an additional 108,937 shares during the period. Capital Fund Management S.A. owned 0.08% of Doximity worth $11,131,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Doximity by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 111,616 shares of the company’s stock worth $8,165,000 after buying an additional 46,699 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Doximity during the 3rd quarter valued at about $6,409,000. Franklin Resources Inc. increased its holdings in shares of Doximity by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,357,505 shares of the company’s stock valued at $245,601,000 after acquiring an additional 194,912 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Doximity in the 3rd quarter valued at approximately $440,000. Finally, Van ECK Associates Corp lifted its holdings in Doximity by 2.3% in the 3rd quarter. Van ECK Associates Corp now owns 88,806 shares of the company’s stock worth $6,496,000 after purchasing an additional 2,014 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Price Performance

Shares of DOCS stock opened at $24.22 on Friday. Doximity, Inc. has a 12 month low of $23.53 and a 12 month high of $76.51. The company has a market cap of $4.47 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.38 and a beta of 1.44. The stock has a 50 day moving average price of $33.02.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, February 5th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 23.84% and a net margin of 37.54%.The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share.

Doximity announced that its Board of Directors has authorized a stock buyback program on Thursday, February 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $52,000.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at approximately $515,814. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Siddharth Sitaram sold 2,319 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total transaction of $58,833.03. Following the sale, the insider directly owned 84,132 shares of the company’s stock, valued at approximately $2,134,428.84. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,601 shares of company stock worth $174,455. 31.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on DOCS. Mizuho lowered their price target on Doximity from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 target price on shares of Doximity in a research note on Monday. The Goldman Sachs Group cut their target price on shares of Doximity from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Needham & Company LLC lowered their price target on Doximity from $75.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Truist Financial cut their price objective on Doximity from $62.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Doximity Company Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.