Intech Investment Management LLC Has $3.57 Million Holdings in Doximity, Inc. $DOCS

Intech Investment Management LLC trimmed its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 61.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,750 shares of the company’s stock after selling 76,444 shares during the period. Intech Investment Management LLC’s holdings in Doximity were worth $3,566,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Doximity by 59.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock valued at $35,000 after purchasing an additional 179 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Doximity by 0.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company’s stock worth $2,012,000 after buying an additional 200 shares in the last quarter. Fairvoy Private Wealth LLC raised its position in Doximity by 1.1% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 19,253 shares of the company’s stock valued at $1,408,000 after buying an additional 206 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Doximity by 0.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after buying an additional 210 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in Doximity by 14.0% in the 3rd quarter. Rakuten Securities Inc. now owns 1,763 shares of the company’s stock valued at $129,000 after acquiring an additional 217 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Doximity Stock Performance

NASDAQ DOCS opened at $24.48 on Monday. The stock has a market cap of $4.52 billion, a PE ratio of 24.48, a P/E/G ratio of 4.10 and a beta of 1.39. The firm has a 50-day moving average of $36.38 and a 200-day moving average of $52.94. Doximity, Inc. has a 52-week low of $23.53 and a 52-week high of $76.51.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. As a group, analysts predict that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Doximity declared that its board has authorized a stock repurchase program on Thursday, February 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DOCS shares. Piper Sandler lifted their price objective on shares of Doximity from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 20th. KeyCorp set a $38.00 price target on shares of Doximity in a research note on Friday, February 6th. Barclays dropped their target price on Doximity from $63.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Canaccord Genuity Group set a $34.00 price target on Doximity and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Needham & Company LLC decreased their target price on shares of Doximity from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Doximity currently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Doximity Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.