Fundsmith LLP Has $13.55 Million Stake in Doximity, Inc. $DOCS

Fundsmith LLP lessened its position in shares of Doximity, Inc. (NYSE:DOCS) by 5.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 653,324 shares of the company’s stock after selling 38,462 shares during the period. Fundsmith LLP owned 0.37% of Doximity worth $13,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DOCS. Wellington Management Group LLP grew its stake in Doximity by 24.7% during the second quarter. Wellington Management Group LLP now owns 3,135,113 shares of the company’s stock worth $65,022,000 after purchasing an additional 621,464 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Doximity in the second quarter valued at approximately $778,000. Handelsbanken Fonder AB boosted its holdings in shares of Doximity by 5.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 39,300 shares of the company’s stock worth $815,000 after buying an additional 2,000 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in Doximity by 34.3% during the second quarter. Central Pacific Bank Trust Division now owns 6,972 shares of the company’s stock worth $145,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Doximity by 108.0% in the first quarter. Pacer Advisors Inc. now owns 908,938 shares of the company’s stock worth $21,178,000 after purchasing an additional 471,972 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DOCS shares. KeyCorp cut shares of Doximity from an “overweight” rating to a “sector weight” rating in a research report on Thursday, May 14th. Morgan Stanley dropped their price target on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. 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, August 7th. Wolfe Research raised Doximity to an “outperform” rating in a research note on Thursday, August 13th. Finally, Barclays upped their target price on Doximity from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Doximity presently has a consensus rating of “Hold” and a consensus target price of $32.43.

Insider Activity

In related news, Director Timothy S. Cabral sold 7,500 shares of the firm’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 transaction, the director directly owned 3,221 shares of the company’s stock, valued at $125,973.31. This trade represents a 69.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siddharth Sitaram sold 1,770 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $24.94, for a total transaction of $44,143.80. Following the transaction, the chief accounting officer owned 97,004 shares in the company, valued at approximately $2,419,279.76. This trade represents a 1.79% 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 sold a total of 13,714 shares of company stock worth $437,251 over the last quarter. Insiders own 31.80% of the company’s stock.

Doximity Stock Up 0.0%

Shares of NYSE:DOCS opened at $26.74 on Monday. The business’s 50 day moving average is $22.71 and its 200 day moving average is $23.05. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 20.91 and a beta of 1.29.

Doximity (NYSE:DOCS) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Doximity had a return on equity of 18.06% and a net margin of 25.48%.The business had revenue of $156.62 million during the quarter. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Doximity, Inc. will post 0.74 earnings per share for the current year.

About Doximity

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.