Lord Abbett & CO. LLC Grows Stake in Doximity, Inc. $DOCS

Key Points

• Lord Abbett & CO. LLC increased its holdings in Doximity by 25.1%, acquiring 164,614 additional shares to bring its total ownership to 819,177 shares valued at approximately $47.5 million.
• Institutional investors control 87.19% of Doximity, with significant purchases and position increases from firms like SG Americas Securities and Vanguard Group, demonstrating strong institutional interest in the company.
• Doximity reported a 15.2% year-over-year revenue growth in its latest earnings, exceeding analysts’ consensus EPS estimate, and has an average price target of $66.21 with a "Moderate Buy" rating from analysts.

Lord Abbett & CO. LLC raised its position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,177 shares of the company's stock after purchasing an additional 164,614 shares during the period. Lord Abbett & CO. LLC owned approximately 0.44% of Doximity worth $47,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Doximity by 8.8% during the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after purchasing an additional 990,923 shares during the last quarter. Invesco Ltd. grew its position in Doximity by 54.8% in the first quarter. Invesco Ltd. now owns 1,969,326 shares of the company's stock valued at $114,280,000 after acquiring an additional 696,923 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Doximity by 8.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,579,708 shares of the company's stock valued at $84,341,000 after acquiring an additional 124,216 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Doximity by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,576,455 shares of the company's stock valued at $84,167,000 after acquiring an additional 63,815 shares during the last quarter. Finally, Northern Trust Corp grew its position in Doximity by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,459,185 shares of the company's stock valued at $77,906,000 after acquiring an additional 125,332 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Price Performance

Shares of NASDAQ DOCS traded down $2.2870 during trading on Tuesday, reaching $63.6430. 674,296 shares of the stock traded hands, compared to its average volume of 2,335,203. Doximity, Inc. has a 52-week low of $35.32 and a 52-week high of $85.21. The company has a 50-day moving average of $60.18 and a 200-day moving average of $60.32. The stock has a market capitalization of $11.92 billion, a P/E ratio of 63.75, a price-to-earnings-growth ratio of 4.10 and a beta of 1.36.

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

Insiders Place Their Bets

In other news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Friday, August 1st. The stock was 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 in the company, valued at approximately $948,721.62. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Regina M. Benjamin sold 10,000 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director owned 16,618 shares in the company, valued at $997,080. This trade represents a 37.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $2,140,940 in the last ninety days. 31.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on Doximity from $87.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 20th. Raymond James Financial lifted their price objective on Doximity from $65.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Piper Sandler lifted their price objective on Doximity from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Needham & Company LLC boosted their price target on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on Doximity from $63.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.21.

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.