UBS Group AG Increases Stock Position in Doximity, Inc. $DOCS

UBS Group AG boosted its stake in Doximity, Inc. (NYSE:DOCS) by 26.5% during the 4th quarter, Holdings Channel reports. The firm owned 680,260 shares of the company’s stock after buying an additional 142,408 shares during the quarter. UBS Group AG’s holdings in Doximity were worth $30,122,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DOCS. Royal Bank of Canada lifted its stake in Doximity by 24.2% in the 1st quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after purchasing an additional 20,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $2,262,000 after purchasing an additional 210 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Doximity by 613.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after purchasing an additional 5,437 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Doximity by 33.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after purchasing an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Doximity in the 1st quarter worth $283,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Doximity Price Performance

Shares of NYSE DOCS opened at $25.97 on Friday. The firm’s 50-day simple moving average is $24.22. The stock has a market cap of $4.80 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. Doximity, Inc. has a 12-month low of $20.55 and a 12-month high of $76.51.

Doximity (NYSE:DOCS) last announced its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. Doximity’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities analysts forecast that Doximity, Inc. will post 1.11 EPS for the current fiscal year.

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

Insider Activity

In related news, Director Kira Scherer Wampler sold 9,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the sale, the director directly owned 19,839 shares of the company’s stock, valued at $517,004.34. This represents a 31.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,427 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $21.09, for a total transaction of $51,185.43. Following the completion of the sale, the insider directly owned 86,705 shares in the company, valued at $1,828,608.45. This trade represents a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 18,028 shares of company stock worth $460,181 over the last 90 days. Corporate insiders own 31.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DOCS. Truist Financial reiterated a “hold” rating and issued a $29.00 price target (down from $37.00) on shares of Doximity in a research note on Monday, April 20th. Loop Capital set a $31.00 price target on shares of Doximity in a research note on Tuesday, March 17th. The Goldman Sachs Group decreased their price target on shares of Doximity from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Evercore cut shares of Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target on the stock. in a research note on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Doximity from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.26.

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.