RFG Advisory LLC Buys Shares of 55,970 Doximity, Inc. $DOCS

RFG Advisory LLC bought a new stake in Doximity, Inc. (NYSE:DOCS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 55,970 shares of the company’s stock, valued at approximately $1,161,000.

A number of other hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in shares of Doximity by 1,908.5% during the second quarter. California State Teachers Retirement System now owns 2,892,193 shares of the company’s stock worth $59,984,000 after purchasing an additional 2,748,192 shares during the period. Carmignac Gestion increased its stake in Doximity by 127.8% in the 1st quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after buying an additional 2,418,971 shares during the period. SG Americas Securities LLC increased its stake in Doximity by 3,403.2% in the 1st quarter. SG Americas Securities LLC now owns 1,408,597 shares of the company’s stock valued at $32,820,000 after buying an additional 1,368,388 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Doximity by 325,436.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock worth $57,515,000 after buying an additional 1,298,492 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Doximity by 3,422.7% in the 4th quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock worth $55,309,000 after buying an additional 1,213,627 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Doximity Stock Up 3.8%

DOCS stock opened at $25.66 on Friday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 19.33 and a beta of 1.25. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51. The firm has a 50 day moving average of $23.69 and a two-hundred day moving average of $23.09.

Doximity (NYSE:DOCS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. On average, research analysts expect that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Doximity news, Director Timothy S. Cabral sold 7,500 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the sale, the director owned 3,221 shares of the company’s stock, valued at $125,973.31. The trade was a 69.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kira Wampler sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $24.95, for a total value of $49,900.00. Following the completion of the sale, the director directly owned 19,839 shares of the company’s stock, valued at $494,983.05. This represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,270 shares of company stock valued at $387,369 over the last three months. 31.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOCS shares. BMO Capital Markets restated a “market perform” rating and set a $30.00 price target on shares of Doximity in a report on Friday, August 7th. Citigroup lowered Doximity to an “underperform” rating in a report on Monday, June 29th. Canaccord Genuity Group set a $36.00 price objective on Doximity in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Doximity from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Freedom Capmkts lowered Doximity from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.18.

Doximity Company Profile

Doximity, Inc operates a digital platform for U.S. medical professionals. Its network enables physicians and other healthcare providers to communicate, collaborate, access medical news and research, maintain professional profiles, and connect with colleagues and patients.

The company offers a range of tools for healthcare organizations and professionals, including telehealth services, digital faxing, scheduling and communication products, and solutions for recruiting and marketing. Doximity also provides pharmaceutical and healthcare companies with digital engagement services designed to reach medical professionals through its platform.

Founded in 2010, Doximity is headquartered in San Francisco and primarily serves the United States healthcare market.