Public Employees Retirement System of Ohio Purchases Shares of 37,503 Doximity, Inc. $DOCS

Public Employees Retirement System of Ohio acquired a new position in Doximity, Inc. (NYSE:DOCS) in the 2nd quarter, HoldingsChannel reports. The firm acquired 37,503 shares of the company’s stock, valued at approximately $778,000.

A number of other large investors have also recently made changes to their positions in the business. Carmignac Gestion lifted its stake in Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock worth $100,480,000 after acquiring an additional 2,418,971 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Doximity by 325,436.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after purchasing an additional 1,298,492 shares during the period. Royal Bank of Canada increased its position in Doximity by 28.4% during the 1st quarter. Royal Bank of Canada now owns 206,282 shares of the company’s stock valued at $4,806,000 after purchasing an additional 45,618 shares during the period. Quantinno Capital Management LP raised its holdings in Doximity by 420.5% in the 1st quarter. Quantinno Capital Management LP now owns 140,345 shares of the company’s stock worth $3,270,000 after purchasing an additional 113,380 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB raised its holdings in Doximity by 174.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 372,750 shares of the company’s stock worth $16,505,000 after purchasing an additional 236,750 shares in the last quarter. 87.19% of the stock is currently owned by institutional investors.

Doximity Price Performance

NYSE:DOCS opened at $24.18 on Thursday. The firm’s 50-day moving average price is $23.56 and its 200-day moving average price is $23.08. The company has a market capitalization of $4.31 billion, a PE ratio of 28.45, a P/E/G ratio of 19.10 and a beta of 1.25. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51.

Doximity (NYSE:DOCS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 18.06%. The company had revenue of $156.62 million during the quarter. During the same period last year, the business earned $0.36 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Doximity, Inc. will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Doximity

In other news, CAO Siddharth Sitaram sold 1,770 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $24.94, for a total value of $44,143.80. Following the sale, the chief accounting officer directly owned 97,004 shares of the company’s stock, valued at $2,419,279.76. The trade was a 1.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, Director Timothy S. Cabral sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.11, for a total value of $293,325.00. Following the completion of the sale, the director owned 3,221 shares in the company, valued at $125,973.31. The trade was a 69.96% 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. Over the last quarter, insiders sold 11,270 shares of company stock valued at $387,369. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCS has been the topic of a number of research reports. Bank of America reaffirmed an “underperform” rating and set a $20.00 target price (down from $38.00) on shares of Doximity in a research note on Monday, June 29th. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective (up from $42.00) on shares of Doximity in a report on Friday, August 7th. Morgan Stanley cut their price objective on Doximity from $49.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Canaccord Genuity Group set a $36.00 target price on Doximity in a report on Friday, August 7th. Finally, Truist Financial increased their target price on Doximity from $19.00 to $24.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Doximity currently has an average rating of “Hold” and a consensus price target of $32.18.

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.