Federated Hermes Inc. Has $11.47 Million Stock Holdings in Doximity, Inc. $DOCS

Federated Hermes Inc. reduced its position in Doximity, Inc. (NASDAQ:DOCS) by 32.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 186,986 shares of the company’s stock after selling 89,985 shares during the period. Federated Hermes Inc. owned about 0.10% of Doximity worth $11,470,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Doximity by 38.7% in 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. increased its holdings in shares of Doximity by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,743 shares of the company’s stock worth $623,000 after acquiring an additional 465 shares during the last quarter. Vanguard Group Inc. raised its stake 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Doximity by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 786,914 shares of the company’s stock valued at $45,665,000 after purchasing an additional 8,390 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Doximity during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

Doximity Stock Down 0.1%

Shares of NASDAQ:DOCS opened at $45.10 on Thursday. Doximity, Inc. has a 12-month low of $44.71 and a 12-month high of $85.21. The company’s 50 day moving average price is $59.14 and its two-hundred day moving average price is $61.52. The firm has a market cap of $8.49 billion, a PE ratio of 45.10, a PEG ratio of 4.10 and a beta of 1.38.

Doximity (NASDAQ:DOCS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Doximity had a net margin of 36.60% and a return on equity of 21.75%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, research analysts expect that Doximity, Inc. will post 0.99 EPS for the current year.

Insider Activity

In related news, Director Regina M. Benjamin sold 5,000 shares of the business’s stock in a transaction dated 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 owned 19,839 shares of the company’s stock, valued at $1,405,394.76. The trade was a 20.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Cabral sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $75.00, for a total transaction of $1,500,000.00. Following the sale, the director directly owned 3,221 shares of the company’s stock, valued at $241,575. This represents a 86.13% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 32,000 shares of company stock worth $2,339,580. 31.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DOCS has been the topic of several research analyst reports. Zacks Research lowered shares of Doximity from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Bank of America upgraded shares of Doximity from a “neutral” rating to a “buy” rating and upped their price target for the company from $75.00 to $82.00 in a research note on Monday, October 27th. Evercore ISI cut their price objective on shares of Doximity from $81.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $62.00 target price on shares of Doximity in a research report on Friday, October 10th. Finally, KeyCorp increased their target price on Doximity from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.95.

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.