Doximity, Inc. $DOCS Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Doximity, Inc. (NASDAQ:DOCS) by 81.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 35,458 shares of the company’s stock after selling 151,528 shares during the quarter. Federated Hermes Inc.’s holdings in Doximity were worth $2,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. William Blair Investment Management LLC increased its stake in Doximity by 13.8% during the second quarter. William Blair Investment Management LLC now owns 5,219,394 shares of the company’s stock valued at $320,158,000 after purchasing an additional 634,927 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Doximity by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,639,898 shares of the company’s stock valued at $223,829,000 after buying an additional 261,319 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Doximity by 53.9% during the 2nd quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after buying an additional 1,108,162 shares during the last quarter. Voya Investment Management LLC raised its stake 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 acquiring an additional 1,415,882 shares during the period. Finally, Holocene Advisors LP bought a new position in Doximity in the second quarter worth about $44,983,000. 87.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCS. Royal Bank Of Canada began coverage on Doximity in a research note on Thursday, January 8th. They issued an “outperform” rating and a $59.00 target price for the company. KeyCorp cut their price target on Doximity from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Evercore ISI restated an “outperform” rating on shares of Doximity in a research note on Thursday, January 8th. Wells Fargo & Company upgraded shares of Doximity from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $65.00 to $55.00 in a research report on Tuesday, January 20th. Finally, Truist Financial set a $62.00 price objective on shares of Doximity in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.74.

Doximity Stock Performance

Shares of DOCS opened at $34.84 on Wednesday. Doximity, Inc. has a one year low of $34.31 and a one year high of $85.21. The stock’s fifty day moving average is $43.83 and its 200-day moving average is $57.24. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39.

Doximity (NASDAQ:DOCS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts forecast that Doximity, Inc. will post 0.99 EPS for the current fiscal year.

Doximity Company Profile

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.