UniSuper Management Pty Ltd Increases Position in Doximity, Inc. $DOCS

UniSuper Management Pty Ltd raised its holdings in Doximity, Inc. (NASDAQ:DOCS) by 24.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,133 shares of the company’s stock after acquiring an additional 13,812 shares during the period. UniSuper Management Pty Ltd’s holdings in Doximity were worth $5,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC boosted its stake in Doximity by 100.0% during the third quarter. Synergy Asset Management LLC now owns 604,502 shares of the company’s stock worth $44,219,000 after buying an additional 302,251 shares during the last quarter. Liontrust Investment Partners LLP raised its holdings in shares of Doximity by 1,189.9% during the 2nd quarter. Liontrust Investment Partners LLP now owns 272,065 shares of the company’s stock worth $16,688,000 after acquiring an additional 250,973 shares during the period. SG Americas Securities LLC boosted its position in shares of Doximity by 335.9% during the 3rd quarter. SG Americas Securities LLC now owns 52,993 shares of the company’s stock valued at $3,876,000 after acquiring an additional 40,837 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Doximity in the second quarter valued at about $1,628,000. Finally, Voya Investment Management LLC increased its position in Doximity by 932.8% during the third quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock worth $114,267,000 after purchasing an additional 1,415,882 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DOCS. Bank of America raised shares of Doximity from a “neutral” rating to a “buy” rating and increased their price target for the company from $75.00 to $82.00 in a research note on Monday, October 27th. KeyCorp decreased their price objective on Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Royal Bank Of Canada initiated coverage on Doximity in a research note on Thursday, January 8th. They set an “outperform” rating and a $59.00 target price for the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $62.00 price target on shares of Doximity in a research note on Friday, October 10th. Finally, Barclays assumed coverage on Doximity in a report on Monday, December 8th. They set an “overweight” rating and a $63.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.74.

Doximity Stock Down 0.5%

DOCS opened at $40.62 on Monday. Doximity, Inc. has a 52 week low of $39.50 and a 52 week high of $85.21. The business has a fifty day simple moving average of $45.31 and a 200-day simple moving average of $58.38. The firm has a market cap of $7.65 billion, a P/E ratio of 40.62, a P/E/G ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter last year, the business posted $0.30 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Doximity, Inc. will post 0.99 earnings per share for the current year.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the transaction, the director owned 19,839 shares in the company, valued at approximately $1,318,103.16. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 31.30% of the company’s stock.

About Doximity

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.