Zacks Research upgraded shares of Doximity (NYSE:DOCS – Free Report) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.
Several other equities analysts have also commented on the company. Canaccord Genuity Group decreased their price target on Doximity from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. JPMorgan Chase & Co. reduced their price objective on shares of Doximity from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Morgan Stanley lowered their target price on shares of Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Mizuho dropped their price target on shares of Doximity from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Finally, Jefferies Financial Group downgraded shares of Doximity from a “buy” rating to a “hold” rating and reduced their price target for the company from $51.00 to $19.00 in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.33.
Check Out Our Latest Stock Analysis on Doximity
Doximity Stock Performance
Insider Transactions at Doximity
In other news, insider Siddharth Sitaram sold 2,444 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the sale, the insider owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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. Also, Director Kira Scherer Wampler sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total transaction of $234,540.00. Following the completion of the transaction, the director directly owned 19,839 shares of the company’s stock, valued at approximately $517,004.34. The trade was a 31.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,753 shares of company stock valued at $343,925 over the last 90 days. 31.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Doximity
Several large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its position in Doximity by 5.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,300 shares of the company’s stock valued at $815,000 after buying an additional 2,000 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Doximity by 34.3% during the second quarter. Central Pacific Bank Trust Division now owns 6,972 shares of the company’s stock worth $145,000 after acquiring an additional 1,780 shares during the period. Pacer Advisors Inc. raised its stake in shares of Doximity by 108.0% in the first quarter. Pacer Advisors Inc. now owns 908,938 shares of the company’s stock valued at $21,178,000 after acquiring an additional 471,972 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Doximity by 163.5% in the first quarter. Empowered Funds LLC now owns 32,239 shares of the company’s stock valued at $751,000 after acquiring an additional 20,006 shares in the last quarter. Finally, Carmignac Gestion boosted its holdings in Doximity by 127.8% in the first quarter. Carmignac Gestion now owns 4,311,997 shares of the company’s stock valued at $100,480,000 after purchasing an additional 2,418,971 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.
About Doximity
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.
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