Key Points
- Director Kira Scherer Wampler sold 9,000 shares of Doximity at an average price of $26.06, totaling about $234,540. The sale reduced her ownership by roughly 31.21% and was made under a pre-arranged Rule 10b5-1 plan.
- Doximity reported solid quarterly results, with EPS of $0.46 beating estimates by a penny and revenue rising 9.8% year over year. The company also announced a $500 million share repurchase program, covering up to 8% of outstanding shares.
- Wall Street remains cautious but constructive, with analysts assigning a consensus Moderate Buy rating and an average price target of $41.26. Shares were trading around $25.97, well below that consensus target.
Doximity, Inc. (NYSE:DOCS - Get Free Report) Director Kira Scherer Wampler sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $26.06, for a total transaction of $234,540.00. Following the transaction, the director directly owned 19,839 shares of the company's stock, valued at approximately $517,004.34. This trade represents a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kira Scherer Wampler also recently made the following trade(s):
- On Tuesday, March 3rd, Kira Scherer Wampler sold 2,000 shares of Doximity stock. The shares were sold at an average price of $26.00, for a total value of $52,000.00.
Doximity Trading Down 0.2%
Shares of NYSE:DOCS opened at $25.97 on Friday. The company's fifty day moving average is $24.22. The firm has a market cap of $4.80 billion, a PE ratio of 21.65, a PEG ratio of 1.85 and a beta of 1.36. Doximity, Inc. has a one year low of $20.55 and a one year high of $76.51.
Doximity (NYSE:DOCS - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. Doximity had a return on equity of 23.84% and a net margin of 37.54%.During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Doximity, Inc. will post 1.11 EPS for the current year.
Doximity announced that its board has approved a share repurchase plan on Thursday, February 5th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Doximity
Several large investors have recently added to or reduced their stakes in DOCS. Whittier Trust Co. of Nevada Inc. grew its holdings in Doximity by 59.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 480 shares of the company's stock valued at $35,000 after buying an additional 179 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Doximity by 0.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 27,500 shares of the company's stock valued at $2,012,000 after acquiring an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Doximity by 0.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,978 shares of the company's stock worth $2,262,000 after acquiring an additional 210 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of Doximity by 14.0% during the 3rd quarter. Rakuten Securities Inc. now owns 1,763 shares of the company's stock worth $129,000 after acquiring an additional 217 shares during the period. Finally, BOKF NA boosted its position in shares of Doximity by 5.3% in the third quarter. BOKF NA now owns 5,356 shares of the company's stock worth $392,000 after acquiring an additional 269 shares during the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
DOCS has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of Doximity from $40.00 to $33.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Piper Sandler lifted their price target on shares of Doximity from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Canaccord Genuity Group set a $34.00 price objective on shares of Doximity and gave the company a "buy" rating in a research report on Monday, February 9th. Evercore downgraded shares of Doximity from an "outperform" rating to an "in-line" rating and set a $25.00 price objective on the stock. in a research note on Wednesday, April 8th. Finally, Bank of America decreased their target price on shares of Doximity from $56.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.26.
Check Out Our Latest Stock Report on Doximity
About Doximity
(
Get Free Report)
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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