Fort Washington Investment Advisors Inc. OH Purchases 231,790 Shares of Doximity, Inc. $DOCS

Fort Washington Investment Advisors Inc. OH lifted its position in Doximity, Inc. (NYSE:DOCS) by 103.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 456,701 shares of the company’s stock after purchasing an additional 231,790 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.24% of Doximity worth $20,223,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Doximity by 24.2% in the first quarter. Royal Bank of Canada now owns 106,845 shares of the company’s stock worth $6,200,000 after buying an additional 20,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Doximity by 0.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company’s stock valued at $2,262,000 after acquiring an additional 210 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Doximity by 613.7% during the first quarter. NewEdge Advisors LLC now owns 6,323 shares of the company’s stock worth $367,000 after acquiring an additional 5,437 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Doximity by 33.3% during the first quarter. Goldman Sachs Group Inc. now owns 255,529 shares of the company’s stock worth $14,828,000 after acquiring an additional 63,873 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Doximity in the 1st quarter worth approximately $283,000. 87.19% of the stock is currently owned by institutional investors.

Insider Activity

In other Doximity news, insider Siddharth Sitaram sold 2,319 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.37, for a total value of $58,833.03. Following the completion of the sale, the insider owned 84,132 shares in the company, valued at approximately $2,134,428.84. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $52,000.00. Following the completion of the sale, the director owned 19,839 shares in the company, valued at approximately $515,814. This represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,601 shares of company stock worth $174,455 over the last three months. 31.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DOCS. Wall Street Zen lowered shares of Doximity from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Loop Capital set a $31.00 price target on shares of Doximity in a research note on Tuesday, March 17th. Canaccord Genuity Group set a $34.00 price target on shares of Doximity and gave the company a “buy” rating in a research report on Monday, February 9th. Piper Sandler lifted their price objective on Doximity from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, BTIG Research lowered their target price on Doximity from $80.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Doximity presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.63.

Doximity Stock Down 2.4%

Shares of DOCS opened at $23.72 on Friday. The stock has a market cap of $4.38 billion, a PE ratio of 19.76, a P/E/G ratio of 1.36 and a beta of 1.44. Doximity, Inc. has a twelve month low of $23.13 and a twelve month high of $76.51. The firm’s fifty day moving average price is $28.87.

Doximity (NYSE:DOCS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a net margin of 37.54% and a return on equity of 23.84%. Doximity’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS.

Doximity declared that its Board of Directors has approved a share repurchase plan on Thursday, February 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Doximity 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.