EFG Asset Management North America Corp. Lowers Stake in Doximity, Inc. $DOCS

Key Points

• EFG Asset Management North America Corp. reduced its stake in Doximity, Inc. by 23.8%, owning 44,157 shares after selling 13,763 shares during the first quarter.
• Doximity reported a 15.2% increase in quarterly revenue year-over-year, with earnings per share of $0.36, exceeding analyst estimates of $0.31.
• Recent analyst ratings have seen upgrades and downgrades, with a consensus price target of $66.21 for Doximity, reflecting mixed market sentiment.

EFG Asset Management North America Corp. decreased its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,157 shares of the company's stock after selling 13,763 shares during the period. EFG Asset Management North America Corp.'s holdings in Doximity were worth $2,563,000 at the end of the most recent reporting period.

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

Doximity Price Performance

NASDAQ:DOCS traded up $0.18 during mid-day trading on Tuesday, hitting $69.70. The company's stock had a trading volume of 378,326 shares, compared to its average volume of 2,237,524. The business's fifty day moving average is $62.83 and its two-hundred day moving average is $59.81. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 1 year low of $36.12 and a 1 year high of $85.21.

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

Wall Street Analysts Forecast Growth

DOCS has been the subject of several recent research reports. Canaccord Genuity Group lifted their price target on Doximity from $50.00 to $59.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Evercore ISI raised shares of Doximity from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $50.00 to $70.00 in a research note on Wednesday, July 9th. Zacks Research downgraded shares of Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Mizuho decreased their price target on shares of Doximity from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 16th. Finally, Raymond James Financial boosted their price objective on shares of Doximity from $65.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Doximity presently has an average rating of "Moderate Buy" and a consensus target price of $66.21.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the director owned 6,360 shares in the company, valued at $381,600. This represents a 61.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Regina M. Benjamin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director directly owned 16,618 shares of the company's stock, valued at approximately $997,080. This trade represents a 37.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,929,380 in the last 90 days. Insiders own 31.30% of the company's stock.

About Doximity

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.