Public Employees Retirement System of Ohio Takes Position in Doximity, Inc. $DOCS

Public Employees Retirement System of Ohio acquired a new position in shares of Doximity, Inc. (NYSE:DOCS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,503 shares of the company’s stock, valued at approximately $778,000.

Several other institutional investors also recently modified their holdings of DOCS. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Doximity by 99.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Doximity by 111.0% during the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after acquiring an additional 1,347 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Doximity by 937.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,833 shares of the company’s stock worth $66,000 after acquiring an additional 2,560 shares in the last quarter. Leonteq Securities AG grew its position in Doximity by 65.6% in the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Doximity in the fourth quarter valued at $87,000. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOCS has been the subject of several research analyst reports. Barclays lifted their price target on Doximity from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Wolfe Research raised Doximity to an “outperform” rating in a report on Thursday, August 13th. Freedom Capmkts downgraded Doximity from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp lowered Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. Finally, Bank of America reissued an “underperform” rating and set a $20.00 price target (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Two 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.18.

Doximity Trading Down 1.0%

DOCS opened at $24.18 on Thursday. Doximity, Inc. has a 12 month low of $17.15 and a 12 month high of $76.51. The business’s 50-day moving average price is $23.56 and its 200-day moving average price is $23.08. The company has a market cap of $4.31 billion, a P/E ratio of 28.45, a P/E/G ratio of 19.10 and a beta of 1.25.

Doximity (NYSE:DOCS) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The company had revenue of $156.62 million during the quarter. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Doximity, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Siddharth Sitaram sold 1,770 shares of Doximity stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $24.94, for a total value of $44,143.80. Following the transaction, the chief accounting officer directly owned 97,004 shares of the company’s stock, valued at $2,419,279.76. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kira Wampler sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $24.95, for a total transaction of $49,900.00. Following the sale, the director owned 19,839 shares of the company’s stock, valued at $494,983.05. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,270 shares of company stock valued at $387,369. 31.80% of the stock is currently owned by company insiders.

Doximity 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.