Adage Capital Partners GP L.L.C. Buys Shares of 114,842 Doximity, Inc. $DOCS

Key Points

• Adage Capital Partners GP L.L.C. acquired a new position in Doximity, purchasing 114,842 shares valued at approximately $6.66 million, and now holds 0.06% of the company's stock.
• Director Timothy S. Cabral and Director Regina M. Benjamin both sold 10,000 shares of Doximity stock at an average price of $60.00, significantly reducing their ownership in the company.
• Despite recent insider selling, analyst ratings on Doximity are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $66.21.

Adage Capital Partners GP L.L.C. purchased a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 114,842 shares of the company's stock, valued at approximately $6,664,000. Adage Capital Partners GP L.L.C. owned about 0.06% of Doximity as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DOCS. VSM Wealth Advisory LLC purchased a new position in Doximity in the 1st quarter valued at approximately $29,000. Allworth Financial LP boosted its holdings in Doximity by 104.0% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after buying an additional 287 shares in the last quarter. National Bank of Canada FI acquired a new position in Doximity during the first quarter worth about $33,000. Spire Wealth Management raised its position in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock valued at $36,000 after buying an additional 260 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Doximity by 70.7% in the 1st quarter. Brooklyn Investment Group now owns 746 shares of the company's stock valued at $43,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Insider Transactions at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $57.09, for a total transaction of $114,180.00. Following the transaction, the director directly owned 16,618 shares of the company's stock, valued at $948,721.62. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Regina M. Benjamin sold 5,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $63.00, for a total value of $315,000.00. Following the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $1,046,934. This represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $1,929,380 in the last quarter. 31.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on DOCS. Wells Fargo & Company increased their price objective on shares of Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Bank of America boosted their target price on shares of Doximity from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Wednesday, June 25th. Zacks Research lowered shares of Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Robert W. Baird decreased their price objective on shares of Doximity from $87.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, May 20th. Finally, Needham & Company LLC increased their price objective on shares of Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.21.

Doximity Price Performance

DOCS traded down $0.50 on Wednesday, hitting $69.01. 1,190,153 shares of the stock were exchanged, compared to its average volume of 2,233,991. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 69.01, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 12 month low of $36.12 and a 12 month high of $85.21. The business has a 50-day moving average of $63.05 and a two-hundred day moving average of $59.88.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter in the prior year, the business earned $0.28 earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity Company Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.