Synergy Asset Management LLC Invests $18.54 Million in Doximity, Inc. $DOCS

Key Points

• Synergy Asset Management LLC invested approximately $18.54 million in Doximity, acquiring 302,251 shares during Q2, making it the 18th largest position in its portfolio.
• Analysts have given Doximity a consensus rating of "Moderate Buy", with a price target averaging $68.16, reflecting various perspectives on the stock's potential.
• Insider selling activity was noted, with two directors collectively selling 25,000 shares for over $1.85 million, indicating a decrease in personal ownership stakes.

Synergy Asset Management LLC acquired a new position in Doximity, Inc. (NASDAQ:DOCS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 302,251 shares of the company's stock, valued at approximately $18,540,000. Doximity comprises 2.1% of Synergy Asset Management LLC's portfolio, making the stock its 18th biggest position. Synergy Asset Management LLC owned 0.16% of Doximity at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DOCS. SG Americas Securities LLC bought a new stake in shares of Doximity in the 1st quarter worth approximately $65,702,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Doximity by 130.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,966,801 shares of the company's stock worth $114,133,000 after acquiring an additional 1,113,076 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company's stock worth $707,646,000 after acquiring an additional 990,923 shares during the last quarter. Invesco Ltd. lifted 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 purchasing an additional 696,923 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Doximity in the first quarter valued at approximately $34,056,000. 87.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on DOCS shares. Wells Fargo & Company boosted their price objective on Doximity from $55.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Zacks Research downgraded Doximity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Canaccord Genuity Group boosted their price objective on Doximity from $59.00 to $67.00 and gave the company a "hold" rating in a research report on Thursday, September 18th. Needham & Company LLC boosted their price objective on Doximity from $67.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Piper Sandler boosted their price objective on Doximity from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $68.16.

Insider Activity at Doximity

In other Doximity news, Director Timothy S. Cabral sold 20,000 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the transaction, the director owned 3,221 shares of the company's stock, valued at approximately $241,575. This represents a 86.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Regina M. Benjamin sold 5,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $70.50, for a total value of $352,500.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at approximately $1,398,649.50. This represents a 20.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock valued at $2,581,880 over the last ninety days. Insiders own 31.30% of the company's stock.

Doximity Trading Up 2.0%

DOCS opened at $72.06 on Friday. The stock has a fifty day simple moving average of $67.00 and a two-hundred day simple moving average of $60.64. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 72.06, a price-to-earnings-growth ratio of 4.10 and a beta of 1.37. Doximity, Inc. has a 12-month low of $40.87 and a 12-month high of $85.21.

Doximity (NASDAQ:DOCS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, topping 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%.During the same period in the previous year, the company earned $0.28 EPS. 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. On average, analysts predict that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity Profile

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.

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