Parkman Healthcare Partners LLC Makes New $5.43 Million Investment in Doximity, Inc. $DOCS

Key Points

• Parkman Healthcare Partners LLC has acquired a new stake in Doximity, Inc., purchasing 93,500 shares valued at approximately $5.43 million.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have significantly increased their stakes in Doximity during the first quarter of the year.
• Analysts have raised their price targets for Doximity shares, with Bank of America and Piper Sandler projecting targets of $62.00 and $69.00 respectively, indicating a positive outlook for the stock.

Parkman Healthcare Partners LLC bought a new position in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 93,500 shares of the company's stock, valued at approximately $5,426,000. Parkman Healthcare Partners LLC owned approximately 0.05% of Doximity at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DOCS. SG Americas Securities LLC purchased a new stake in shares of Doximity in the 1st quarter worth approximately $65,702,000. Vanguard Group Inc. raised its stake in Doximity by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after buying an additional 990,923 shares in the last quarter. Fundsmith LLP purchased a new stake in Doximity during the fourth quarter worth $37,934,000. Invesco Ltd. boosted its position in Doximity by 54.8% during the 1st 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in Doximity by 180.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 972,157 shares of the company's stock valued at $51,903,000 after acquiring an additional 625,467 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company's stock.

Analyst Upgrades and Downgrades

DOCS has been the topic of a number of recent research reports. Bank of America raised their price objective on Doximity from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Wednesday, June 25th. The Goldman Sachs Group set a $50.00 price target on shares of Doximity and gave the company a "neutral" rating in a research report on Wednesday, May 21st. Needham & Company LLC lifted their price objective on shares of Doximity from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Canaccord Genuity Group increased their target price on shares of Doximity from $50.00 to $59.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Finally, Truist Financial raised their target price on shares of Doximity from $52.00 to $61.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.21.

Doximity Stock Performance

NASDAQ DOCS traded down $0.50 during mid-day trading on Wednesday, reaching $69.01. 1,190,153 shares of the stock were exchanged, compared to its average volume of 2,233,991. The company has a market capitalization of $12.92 billion, a P/E ratio of 69.01, a P/E/G ratio of 4.10 and a beta of 1.37. The business's 50 day moving average is $63.05 and its 200-day moving average is $59.88. 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%. During the same period in the prior year, the company earned $0.28 earnings per share. The business's revenue was up 15.2% on a year-over-year basis. Doximity has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities analysts predict that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Insider Activity at Doximity

In related news, Director Timothy S. Cabral sold 10,000 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director owned 6,360 shares of the company's stock, valued at approximately $381,600. The trade was a 61.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Regina M. Benjamin sold 5,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $63.00, for a total transaction of $315,000.00. Following the transaction, the director owned 16,618 shares of the company's stock, valued at $1,046,934. This represents a 23.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,000 shares of company stock valued at $1,929,380. 31.30% of the stock is owned by company insiders.

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.