Royal Bank of Canada Acquires 45,618 Shares of Doximity, Inc. $DOCS

Royal Bank of Canada boosted its holdings in Doximity, Inc. (NYSE:DOCS) by 28.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 206,282 shares of the company’s stock after purchasing an additional 45,618 shares during the period. Royal Bank of Canada’s holdings in Doximity were worth $4,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of DOCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock worth $2,262,000 after acquiring an additional 210 shares during the period. BOKF NA grew its position in Doximity by 5.3% in the 3rd quarter. BOKF NA now owns 5,356 shares of the company’s stock worth $392,000 after purchasing an additional 269 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Doximity by 1.1% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,736 shares of the company’s stock worth $1,361,000 after purchasing an additional 333 shares during the period. Lifestyle Asset Management Inc. raised its position in shares of Doximity by 5.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 7,083 shares of the company’s stock valued at $314,000 after buying an additional 396 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Doximity by 99.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after buying an additional 397 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Doximity

In other Doximity news, Director Timothy S. Cabral sold 7,500 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $39.11, for a total transaction of $293,325.00. Following the sale, the director directly owned 3,221 shares of the company’s stock, valued at approximately $125,973.31. This represents a 69.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was 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 of the company’s stock, valued at approximately $1,851,309.46. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. KeyCorp lowered Doximity from an “overweight” rating to a “sector weight” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. lifted their price objective on Doximity from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. BMO Capital Markets restated a “market perform” rating and set a $30.00 price objective on shares of Doximity in a research report on Friday, August 7th. Leerink Partners cut their target price on Doximity from $31.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $20.00 target price (down from $38.00) on shares of Doximity in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Doximity has an average rating of “Hold” and a consensus price target of $32.10.

Doximity Stock Performance

Shares of NYSE DOCS opened at $26.51 on Friday. Doximity, Inc. has a 52-week low of $17.15 and a 52-week high of $76.51. The business has a fifty day moving average of $21.62 and a two-hundred day moving average of $23.83. The stock has a market cap of $4.85 billion, a PE ratio of 31.19, a PEG ratio of 16.86 and a beta of 1.29.

Doximity (NYSE:DOCS) last posted its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. The business had revenue of $156.62 million for the quarter. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Analysts predict that Doximity, Inc. will post 0.86 earnings per share for the current year.

Doximity Company 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.