Bank of Montreal Can Invests $637,000 in Doximity, Inc. (NASDAQ:DOCS)

Bank of Montreal Can purchased a new position in Doximity, Inc. (NASDAQ:DOCS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,574 shares of the company’s stock, valued at approximately $637,000.

A number of other hedge funds have also modified their holdings of DOCS. Vanguard Group Inc. increased its stake in shares of Doximity by 81.2% in the first quarter. Vanguard Group Inc. now owns 7,501,908 shares of the company’s stock worth $390,774,000 after acquiring an additional 3,362,575 shares during the last quarter. Baillie Gifford & Co. increased its position in Doximity by 291.6% during the first quarter. Baillie Gifford & Co. now owns 4,388,725 shares of the company’s stock worth $142,107,000 after buying an additional 3,268,078 shares during the last quarter. Clearbridge Investments LLC increased its position in Doximity by 559.5% during the first quarter. Clearbridge Investments LLC now owns 2,682,876 shares of the company’s stock worth $139,751,000 after buying an additional 2,276,056 shares during the last quarter. Invesco Ltd. increased its position in Doximity by 141.3% during the first quarter. Invesco Ltd. now owns 2,410,842 shares of the company’s stock worth $125,581,000 after buying an additional 1,411,849 shares during the last quarter. Finally, State Street Corp increased its position in Doximity by 245.6% during the second quarter. State Street Corp now owns 1,246,466 shares of the company’s stock worth $43,402,000 after buying an additional 885,798 shares during the last quarter. 54.65% of the stock is owned by institutional investors and hedge funds.

Doximity Stock Performance

NASDAQ DOCS opened at $25.41 on Thursday. The firm has a 50-day simple moving average of $21.66 and a 200 day simple moving average of $27.78. Doximity, Inc. has a twelve month low of $19.71 and a twelve month high of $40.12. The stock has a market cap of $4.95 billion, a PE ratio of 43.80, a PEG ratio of 4.51 and a beta of 1.04.

Doximity (NASDAQ:DOCS) last released its earnings results on Thursday, November 9th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. Doximity had a net margin of 27.47% and a return on equity of 14.26%. The business had revenue of $113.61 million during the quarter, compared to analysts’ expectations of $109.19 million. Research analysts forecast that Doximity, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on DOCS. Needham & Company LLC downgraded shares of Doximity from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Piper Sandler upped their price target on shares of Doximity from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Bank of America decreased their price target on shares of Doximity from $28.00 to $24.00 in a report on Wednesday, August 9th. Canaccord Genuity Group decreased their price target on shares of Doximity from $40.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 5th. Finally, Guggenheim cut shares of Doximity from a “buy” rating to a “neutral” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Doximity currently has an average rating of “Hold” and a consensus price target of $28.40.

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.