Baird Financial Group Inc. Makes New Investment in Doximity, Inc. $DOCS

Baird Financial Group Inc. acquired a new stake in Doximity, Inc. (NASDAQ:DOCS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 67,474 shares of the company’s stock, valued at approximately $4,139,000.

A number of other institutional investors have also modified their holdings of the stock. Jump Financial LLC acquired a new position in Doximity in the 1st quarter valued at $3,125,000. Hsbc Holdings PLC raised its stake in shares of Doximity by 752.1% during the 1st quarter. Hsbc Holdings PLC now owns 141,191 shares of the company’s stock worth $8,120,000 after buying an additional 124,622 shares in the last quarter. Strs Ohio acquired a new stake in shares of Doximity in the 1st quarter valued at approximately $665,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Doximity in the first quarter valued at approximately $801,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Doximity during the second quarter worth $1,628,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Insider Activity at Doximity

In related news, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $66.44, for a total transaction of $132,880.00. Following the transaction, the director directly owned 19,839 shares in the company, valued at approximately $1,318,103.16. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total value of $1,500,000.00. Following the completion of the sale, the director directly owned 3,221 shares in the company, valued at approximately $241,575. The trade was a 86.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,000 shares of company stock worth $2,339,580. 31.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DOCS has been the subject of a number of recent analyst reports. Raymond James Financial raised Doximity from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $75.00 to $65.00 in a report on Friday, November 21st. KeyCorp raised their price objective on shares of Doximity from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI decreased their price target on Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Robert W. Baird boosted their target price on Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $62.00 price objective on shares of Doximity in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

Doximity Price Performance

Shares of NASDAQ DOCS opened at $45.10 on Thursday. The company has a 50-day simple moving average of $59.14 and a 200-day simple moving average of $61.52. The company has a market cap of $8.49 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 4.10 and a beta of 1.38. Doximity, Inc. has a 12 month low of $44.71 and a 12 month high of $85.21.

Doximity (NASDAQ:DOCS) last announced its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. On average, analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.