Baird Financial Group Inc. Invests $4.14 Million in Doximity, Inc. $DOCS

Baird Financial Group Inc. purchased a new stake in shares of Doximity, Inc. (NASDAQ:DOCS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 67,474 shares of the company’s stock, valued at approximately $4,139,000.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Doximity by 38.7% during the first quarter. Cetera Investment Advisers now owns 11,234 shares of the company’s stock valued at $652,000 after buying an additional 3,137 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Doximity by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,743 shares of the company’s stock valued at $623,000 after acquiring an additional 465 shares during the period. Vanguard Group Inc. grew its position in Doximity by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 12,194,492 shares of the company’s stock valued at $707,646,000 after acquiring an additional 990,923 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Doximity by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 786,914 shares of the company’s stock valued at $45,665,000 after acquiring an additional 8,390 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in Doximity in the first quarter worth $33,000. Institutional investors own 87.19% of the company’s stock.

Analyst Ratings Changes

DOCS has been the subject of a number of recent analyst reports. BMO Capital Markets assumed coverage on shares of Doximity in a research note on Thursday, November 13th. They set a “market perform” rating and a $55.00 target price for the company. Evercore ISI dropped their target price on Doximity from $81.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Canaccord Genuity Group dropped their price target on Doximity from $67.00 to $58.00 and set a “hold” rating on the stock in a research note on Monday, November 10th. Bank of America upgraded Doximity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $82.00 in a research note on Monday, October 27th. Finally, Robert W. Baird increased their price target on Doximity from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, September 11th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Insider Activity

In related news, Director Regina M. Benjamin sold 5,000 shares of Doximity stock in a transaction on Friday, October 10th. The stock was sold at an average price of $70.84, for a total value of $354,200.00. Following the completion of the transaction, the director directly owned 19,839 shares in the company, valued at approximately $1,405,394.76. This trade represents a 20.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $66.44, for a total value of $132,880.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at $1,318,103.16. This represents a 9.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 32,000 shares of company stock worth $2,339,580. Corporate insiders own 31.30% of the company’s stock.

Doximity Stock Down 0.1%

NASDAQ:DOCS opened at $45.10 on Thursday. Doximity, Inc. has a 52 week low of $44.71 and a 52 week high of $85.21. The company has a market capitalization of $8.49 billion, a P/E ratio of 45.10, a P/E/G ratio of 4.10 and a beta of 1.38. The stock’s fifty day moving average is $59.14 and its two-hundred day moving average is $61.52.

Doximity (NASDAQ:DOCS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Sell-side analysts anticipate that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

Doximity Company 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.