Deerfield Management Company L.P. Series C Purchases Shares of 19,315 Doximity, Inc. (NASDAQ:DOCS)

Deerfield Management Company L.P. Series C acquired a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,315 shares of the company’s stock, valued at approximately $540,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AXA S.A. increased its holdings in shares of Doximity by 40.2% during the 2nd quarter. AXA S.A. now owns 216,392 shares of the company’s stock valued at $6,052,000 after purchasing an additional 61,992 shares in the last quarter. Bank of Montreal Can increased its holdings in Doximity by 43.4% in the second quarter. Bank of Montreal Can now owns 21,412 shares of the company’s stock valued at $599,000 after buying an additional 6,480 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Doximity by 903.4% in the second quarter. Ensign Peak Advisors Inc now owns 326,690 shares of the company’s stock worth $9,138,000 after acquiring an additional 294,132 shares during the period. Sei Investments Co. boosted its stake in shares of Doximity by 48.0% during the 2nd quarter. Sei Investments Co. now owns 51,813 shares of the company’s stock worth $1,449,000 after acquiring an additional 16,803 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Doximity by 27.0% during the 2nd quarter. Pacer Advisors Inc. now owns 81,213 shares of the company’s stock valued at $2,272,000 after acquiring an additional 17,285 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DOCS shares. Truist Financial reaffirmed a “hold” rating and issued a $35.00 price target (up previously from $31.00) on shares of Doximity in a report on Wednesday, August 14th. Baird R W upgraded Doximity to a “strong-buy” rating in a research report on Tuesday, September 17th. Barclays boosted their price target on shares of Doximity from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Canaccord Genuity Group increased their price objective on shares of Doximity from $37.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company cut shares of Doximity from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $27.00 to $19.00 in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Doximity currently has a consensus rating of “Hold” and an average target price of $32.42.

Doximity Stock Performance

Shares of Doximity stock opened at $42.90 on Friday. The business’s 50 day moving average price is $34.82 and its 200 day moving average price is $29.57. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 5.80 and a beta of 1.27. Doximity, Inc. has a one year low of $19.89 and a one year high of $43.56.

Doximity (NASDAQ:DOCS) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Doximity had a net margin of 32.53% and a return on equity of 19.26%. The firm had revenue of $126.68 million for the quarter, compared to analysts’ expectations of $119.88 million. On average, analysts predict that Doximity, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Watkin Phoebe L. Yang sold 1,940 shares of Doximity stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $28.22, for a total transaction of $54,746.80. Following the sale, the director now owns 12,269 shares of the company’s stock, valued at approximately $346,231.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Watkin Phoebe L. Yang sold 1,940 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $28.22, for a total value of $54,746.80. Following the sale, the director now directly owns 12,269 shares in the company, valued at approximately $346,231.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Watkin Phoebe L. Yang sold 1,011 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $25.54, for a total transaction of $25,820.94. Following the transaction, the director now directly owns 11,258 shares of the company’s stock, valued at approximately $287,529.32. The disclosure for this sale can be found here. Insiders sold a total of 37,951 shares of company stock valued at $1,271,018 in the last 90 days. Company insiders own 39.40% of the company’s stock.

Doximity Profile

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.