Intech Investment Management LLC Has $3.57 Million Holdings in Doximity, Inc. $DOCS

Intech Investment Management LLC trimmed its holdings in shares of Doximity, Inc. (NASDAQ:DOCS) by 61.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,750 shares of the company’s stock after selling 76,444 shares during the quarter. Intech Investment Management LLC’s holdings in Doximity were worth $3,566,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Hantz Financial Services Inc. increased its holdings in shares of Doximity by 148.9% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the company’s stock worth $28,000 after purchasing an additional 271 shares during the period. Root Financial Partners LLC acquired a new stake in Doximity during the third quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. increased its stake in Doximity by 59.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company’s stock worth $35,000 after acquiring an additional 179 shares during the period. Toth Financial Advisory Corp raised its holdings in Doximity by 150.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its position in shares of Doximity by 136.9% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 616 shares of the company’s stock valued at $45,000 after acquiring an additional 356 shares during the period. Institutional investors own 87.19% of the company’s stock.

Doximity Trading Down 2.5%

DOCS opened at $24.48 on Monday. The company has a market cap of $4.52 billion, a P/E ratio of 24.48, a PEG ratio of 4.10 and a beta of 1.39. The company’s 50 day moving average is $36.38 and its 200-day moving average is $52.94. Doximity, Inc. has a 1-year low of $23.53 and a 1-year high of $76.51.

Doximity (NASDAQ:DOCS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 36.60% and a return on equity of 21.75%. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has initiated a share repurchase program on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOCS. KeyCorp set a $38.00 price target on Doximity in a research report on Friday, February 6th. Piper Sandler raised their target price on shares of Doximity from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 20th. The Goldman Sachs Group dropped their target price on shares of Doximity from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Wells Fargo & Company reduced their price target on shares of Doximity from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, Royal Bank Of Canada began coverage on shares of Doximity in a research note on Thursday, January 8th. They issued an “outperform” rating and a $59.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Doximity 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.