The Manufacturers Life Insurance Company Purchases 35,271 Shares of Doximity, Inc. $DOCS

The Manufacturers Life Insurance Company raised its holdings in Doximity, Inc. (NYSE:DOCS) by 36.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 132,951 shares of the company’s stock after purchasing an additional 35,271 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Doximity were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Doximity by 99.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Parallel Advisors LLC boosted its position in Doximity by 111.0% during the first quarter. Parallel Advisors LLC now owns 2,560 shares of the company’s stock worth $60,000 after purchasing an additional 1,347 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Doximity by 35.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock valued at $68,000 after purchasing an additional 405 shares during the last quarter. Leonteq Securities AG raised its position in shares of Doximity by 65.6% in the first quarter. Leonteq Securities AG now owns 2,912 shares of the company’s stock valued at $68,000 after purchasing an additional 1,154 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Doximity in the fourth quarter valued at about $87,000. 87.19% of the stock is currently owned by institutional investors.

Doximity Stock Up 32.4%

NYSE DOCS opened at $27.35 on Friday. The company has a market capitalization of $5.00 billion, a P/E ratio of 32.18, a P/E/G ratio of 7.50 and a beta of 1.29. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51. The firm has a 50-day moving average price of $21.28 and a two-hundred day moving average price of $24.37.

Doximity (NYSE:DOCS) last announced its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. Doximity had a net margin of 25.48% and a return on equity of 17.65%. The company had revenue of $156.62 million for the quarter. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that Doximity, Inc. will post 0.87 EPS for the current year.

Insider Transactions at Doximity

In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the transaction, the insider owned 90,706 shares in the company, valued at $1,851,309.46. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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. 31.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on DOCS. KeyCorp downgraded shares of Doximity from an “overweight” rating to a “sector weight” rating in a report on Thursday, May 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $18.00 target price (down from $32.00) on shares of Doximity in a research report on Thursday, May 14th. Needham & Company LLC reiterated a “buy” rating and set a $41.00 target price on shares of Doximity in a research note on Friday. Jefferies Financial Group cut Doximity from a “buy” rating to a “hold” rating and dropped their price target for the stock from $51.00 to $19.00 in a report on Thursday, May 14th. Finally, Mizuho decreased their price objective on Doximity from $34.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.86.

Doximity News Summary

Here are the key news stories impacting Doximity this week:

• Positive Sentiment: Doximity reported fiscal Q1 revenue of $156.6 million, up 7.3% year over year, and adjusted earnings of $0.29 per share. Revenue exceeded expectations, while the company’s profitability and 30.4% net margin remained notable. Doximity earnings report
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to $671 million-$681 million, slightly above the analyst consensus of $670.4 million. The outlook reflects anticipated demand from pharmaceutical customers and continued adoption of Doximity’s AI capabilities. Doximity Q1 earnings and guidance
• Positive Sentiment: The CEO said Doximity’s clinical AI search generates roughly 10 times more revenue than it costs to operate, while AI-driven engagement is outperforming expectations. Investors view this as a potential source of future monetization that is not fully reflected in current forecasts. CNBC Doximity AI report
• Positive Sentiment: Analysts raised their targets: Piper Sandler maintained an overweight rating and lifted its target to $47 from $42, while JPMorgan raised its target to $31 from $26 but retained a neutral rating. Analyst target changes
• Neutral Sentiment: Doximity’s addition or reclassification within the Russell 1000 may broaden institutional visibility and affect index-related trading, but it does not directly change the company’s fundamentals. Russell 1000 reclassification
• Negative Sentiment: Adjusted earnings fell from $0.36 per share a year earlier, and some estimates showed a slight earnings miss. Higher AI investment is pressuring margins, while critics argue the rally may have moved ahead of near-term fundamentals and could reverse. Doximity rally analysis

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.