Integrated Wealth Concepts LLC Boosts Position in Doximity, Inc. $DOCS

Key Points

• Integrated Wealth Concepts LLC significantly increased its stake in Doximity, Inc. by 133.1%, now holding shares worth $1.81 million.
• Doximity reported a quarterly earnings per share (EPS) of $0.36, surpassing the consensus estimate of $0.31, with a 15.2% year-over-year revenue increase.
• As of now, 87.19% of Doximity's stock is held by institutional investors and hedge funds, indicating strong institutional interest in the company.

Integrated Wealth Concepts LLC raised its holdings in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 133.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,187 shares of the company's stock after buying an additional 17,807 shares during the period. Integrated Wealth Concepts LLC's holdings in Doximity were worth $1,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its stake in shares of Doximity by 0.3% in the first quarter. Amalgamated Bank now owns 60,928 shares of the company's stock worth $3,536,000 after purchasing an additional 186 shares in the last quarter. Greenleaf Trust increased its stake in shares of Doximity by 5.4% in the first quarter. Greenleaf Trust now owns 4,492 shares of the company's stock worth $261,000 after purchasing an additional 230 shares in the last quarter. Spire Wealth Management increased its stake in shares of Doximity by 73.2% in the first quarter. Spire Wealth Management now owns 615 shares of the company's stock worth $36,000 after purchasing an additional 260 shares in the last quarter. Allworth Financial LP increased its stake in shares of Doximity by 104.0% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $32,000 after purchasing an additional 287 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Doximity by 70.7% in the first quarter. Brooklyn Investment Group now owns 746 shares of the company's stock worth $43,000 after purchasing an additional 309 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOCS. Truist Financial increased their price objective on shares of Doximity from $52.00 to $61.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Canaccord Genuity Group raised their target price on shares of Doximity from $50.00 to $59.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Zacks Research cut shares of Doximity from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of Doximity from $63.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, Needham & Company LLC raised their target price 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 issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Doximity has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Insider Transactions at Doximity

In other 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 value of $114,180.00. Following the completion of the sale, the director owned 16,618 shares in the company, valued at approximately $948,721.62. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 10,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the director owned 6,360 shares of the company's stock, valued at $381,600. This trade represents a 61.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,000 shares of company stock worth $1,929,380. 31.30% of the stock is currently owned by insiders.

Doximity Stock Performance

DOCS stock traded up $1.35 during trading on Monday, hitting $72.38. 250,432 shares of the company's stock traded hands, compared to its average volume of 2,212,487. Doximity, Inc. has a 52 week low of $39.27 and a 52 week high of $85.21. The business has a fifty day simple moving average of $63.60 and a 200 day simple moving average of $59.77. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 72.48, a P/E/G ratio of 4.10 and a beta of 1.37.

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

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.