The Manufacturers Life Insurance Company Acquires 35,271 Shares of Doximity, Inc. $DOCS

The Manufacturers Life Insurance Company grew its holdings in Doximity, Inc. (NYSE:DOCS) by 36.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 132,951 shares of the company’s stock after buying an additional 35,271 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Doximity worth $3,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the last quarter. Parallel Advisors LLC raised its position in Doximity by 111.0% in the 1st quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the last quarter. Farther Finance Advisors LLC raised its position in Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after purchasing an additional 405 shares during the last quarter. Leonteq Securities AG lifted its holdings in Doximity by 65.6% during the 1st quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock worth $68,000 after buying an additional 1,154 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Doximity during the 4th quarter worth $87,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

More Doximity News

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity reported fiscal Q1 revenue of $156.6 million, up 7.3% year over year, and adjusted earnings of $0.29 per share. Revenue exceeded expectations, while the company’s profitability and 30.4% net margin remained notable. Doximity earnings report
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to $671 million-$681 million, slightly above the analyst consensus of $670.4 million. The outlook reflects anticipated demand from pharmaceutical customers and continued adoption of Doximity’s AI capabilities. Doximity Q1 earnings and guidance
• Positive Sentiment: The CEO said Doximity’s clinical AI search generates roughly 10 times more revenue than it costs to operate, while AI-driven engagement is outperforming expectations. Investors view this as a potential source of future monetization that is not fully reflected in current forecasts. CNBC Doximity AI report
• Positive Sentiment: Analysts raised their targets: Piper Sandler maintained an overweight rating and lifted its target to $47 from $42, while JPMorgan raised its target to $31 from $26 but retained a neutral rating. Analyst target changes
• Neutral Sentiment: Doximity’s addition or reclassification within the Russell 1000 may broaden institutional visibility and affect index-related trading, but it does not directly change the company’s fundamentals. Russell 1000 reclassification
• Negative Sentiment: Adjusted earnings fell from $0.36 per share a year earlier, and some estimates showed a slight earnings miss. Higher AI investment is pressuring margins, while critics argue the rally may have moved ahead of near-term fundamentals and could reverse. Doximity rally analysis

Insider Activity

In related news, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the sale, the insider directly owned 90,706 shares in the company, valued at $1,851,309.46. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 31.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on DOCS shares. Zacks Research raised Doximity from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $30.00 price target on shares of Doximity in a research note on Friday. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target (up from $42.00) on shares of Doximity in a report on Friday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $18.00 price objective (down from $32.00) on shares of Doximity in a research report on Thursday, May 14th. Finally, KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.86.

Doximity Price Performance

Shares of DOCS stock opened at $27.35 on Friday. The stock has a market cap of $5.00 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 7.50 and a beta of 1.29. The stock has a 50-day moving average of $21.28 and a 200-day moving average of $24.37. Doximity, Inc. has a one year low of $17.15 and a one year high of $76.51.

Doximity (NYSE:DOCS) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 17.65%. The company had revenue of $156.62 million during the quarter. During the same period last year, the firm earned $0.36 EPS. Doximity’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Doximity, Inc. will post 0.87 earnings per share for the current year.

Doximity Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.