Blair William & Co. IL Acquires 345,390 Shares of Doximity, Inc. $DOCS

Key Points

• Blair William & Co. IL dramatically increased its stake in Doximity by 1,990.7%, purchasing 345,390 shares to hold 362,740 shares total (about 0.19% of the company) valued at roughly $26.53 million.
• Doximity’s board authorized a $500 million share repurchase program (up to 8% of shares) and the company reported a quarterly EPS of $0.46 (beating estimates by $0.01) with revenue up 9.8% year-over-year.
• The stock is trading near $25.39 with a market cap of $4.69 billion and a 12‑month range of $23.53–$76.51; analysts have a consensus “Moderate Buy” rating with an average target of $48.33 amid several recent price-target cuts.

Blair William & Co. IL raised its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 1,990.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 362,740 shares of the company's stock after purchasing an additional 345,390 shares during the quarter. Blair William & Co. IL owned 0.19% of Doximity worth $26,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its position in shares of Doximity by 59.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company's stock worth $35,000 after buying an additional 179 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Doximity by 0.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company's stock valued at $2,012,000 after acquiring an additional 200 shares during the period. Fairvoy Private Wealth LLC boosted its stake in Doximity by 1.1% during the 3rd quarter. Fairvoy Private Wealth LLC now owns 19,253 shares of the company's stock worth $1,408,000 after acquiring an additional 206 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock valued at $2,262,000 after purchasing an additional 210 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in Doximity by 14.0% during the third quarter. Rakuten Securities Inc. now owns 1,763 shares of the company's stock valued at $129,000 after purchasing an additional 217 shares during the period. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Performance

Shares of DOCS opened at $25.39 on Friday. The firm has a market cap of $4.69 billion, a P/E ratio of 25.39, a PEG ratio of 4.10 and a beta of 1.44. Doximity, Inc. has a twelve month low of $23.53 and a twelve month high of $76.51. The firm's 50 day moving average price is $34.57 and its two-hundred day moving average price is $51.68.

Doximity (NASDAQ:DOCS - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the prior year, the business earned $0.45 earnings per share. Doximity's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity declared that its board has authorized a stock repurchase 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 usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DOCS has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of Doximity from $40.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Needham & Company LLC decreased their price target on shares of Doximity from $75.00 to $55.00 and set a "buy" rating for the company in a report on Friday, February 6th. Mizuho lowered their price objective on shares of Doximity from $45.00 to $34.00 and set a "neutral" rating for the company in a research report on Tuesday, February 10th. Royal Bank Of Canada started coverage on Doximity in a research note on Thursday, January 8th. They set an "outperform" rating and a $59.00 price objective on the stock. Finally, BTIG Research reduced their target price on Doximity from $80.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.33.

Insiders Place Their Bets

In other Doximity news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $52,000.00. Following the completion of the transaction, the director owned 19,839 shares in the company, valued at approximately $515,814. This represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.30% of the company's stock.

Doximity Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.

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