Janus Henderson Group PLC lessened its stake in Doximity, Inc. (NYSE:DOCS – Free Report) by 89.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,690 shares of the company’s stock after selling 462,468 shares during the quarter. Janus Henderson Group PLC’s holdings in Doximity were worth $1,297,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Doximity by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 13,285,485 shares of the company’s stock valued at $588,281,000 after acquiring an additional 518,916 shares in the last quarter. Capital World Investors lifted its stake in Doximity by 5.1% in the 4th quarter. Capital World Investors now owns 5,654,875 shares of the company’s stock worth $250,398,000 after purchasing an additional 273,444 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Doximity by 29.4% during the 1st quarter. Renaissance Technologies LLC now owns 3,059,749 shares of the company’s stock valued at $71,292,000 after purchasing an additional 694,300 shares during the last quarter. Invesco Ltd. grew its position in shares of Doximity by 4.2% during the fourth quarter. Invesco Ltd. now owns 2,426,819 shares of the company’s stock valued at $107,460,000 after purchasing an additional 98,519 shares in the last quarter. Finally, Carmignac Gestion grew its position in shares of Doximity by 355.9% during the fourth quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock valued at $83,831,000 after purchasing an additional 1,477,798 shares in the last quarter. Institutional investors own 87.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on DOCS. Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price (up from $42.00) on shares of Doximity in a research report on Friday. JPMorgan Chase & Co. raised their price target on Doximity from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Friday. Citigroup downgraded Doximity to an “underperform” rating in a research note on Monday, June 29th. Bank of America reaffirmed an “underperform” rating and set a $20.00 price objective (down from $38.00) on shares of Doximity in a report on Monday, June 29th. Finally, Morgan Stanley lowered their target price on Doximity from $49.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Doximity has a consensus rating of “Hold” and an average target price of $31.86.
Insider Buying and Selling
In other Doximity news, insider Siddharth Sitaram sold 2,444 shares of Doximity stock in a transaction on Monday, June 8th. The shares were sold at an average price of $20.41, for a total transaction of $49,882.04. Following the completion of the transaction, the insider directly owned 90,706 shares of the company’s stock, valued at $1,851,309.46. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 insiders.
More Doximity News
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 Price Performance
Shares of NYSE DOCS opened at $27.35 on Monday. Doximity, Inc. has a 1-year low of $17.15 and a 1-year high of $76.51. The business’s 50 day moving average is $21.28 and its two-hundred day moving average is $24.25. The stock has a market capitalization of $5.00 billion, a P/E ratio of 32.18, a PEG ratio of 9.94 and a beta of 1.29.
Doximity (NYSE:DOCS – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.13. The business had revenue of $156.62 million during the quarter. Doximity had a return on equity of 18.06% and a net margin of 25.48%.Doximity’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate that Doximity, Inc. will post 0.87 earnings per share for the current fiscal year.
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.
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