Loomis Sayles & Co. L P Increases Stake in Doximity, Inc. (NASDAQ:DOCS)

Loomis Sayles & Co. L P grew its stake in shares of Doximity, Inc. (NASDAQ:DOCS) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,334,597 shares of the company’s stock after buying an additional 62,366 shares during the period. Loomis Sayles & Co. L P owned 1.25% of Doximity worth $124,644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOCS. Global Retirement Partners LLC raised its position in Doximity by 468.1% in the fourth quarter. Global Retirement Partners LLC now owns 534 shares of the company’s stock valued at $29,000 after purchasing an additional 440 shares during the period. UMB Bank n.a. raised its position in shares of Doximity by 69.1% during the 4th quarter. UMB Bank n.a. now owns 575 shares of the company’s stock worth $31,000 after purchasing an additional 235 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Doximity by 49.4% during the fourth quarter. Larson Financial Group LLC now owns 756 shares of the company’s stock valued at $40,000 after acquiring an additional 250 shares during the period. Optimum Investment Advisors bought a new stake in Doximity during the 4th quarter valued at $43,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Doximity in the 3rd quarter worth approximately $46,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DOCS. Raymond James reiterated an “outperform” rating and issued a $83.00 target price (up from $65.00) on shares of Doximity in a report on Friday, February 7th. Leerink Partnrs upgraded shares of Doximity from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 7th. Piper Sandler raised Doximity from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $31.00 to $78.00 in a research report on Friday, February 7th. The Goldman Sachs Group increased their target price on shares of Doximity from $58.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Doximity in a research note on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Doximity presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Doximity Trading Down 6.9 %

DOCS opened at $61.52 on Thursday. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 4.10 and a beta of 1.34. The company’s fifty day moving average price is $65.24 and its two-hundred day moving average price is $54.11. Doximity, Inc. has a 1-year low of $22.96 and a 1-year high of $85.21.

Insider Activity

In related news, Director Timothy S. Cabral sold 20,000 shares of Doximity stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $57.62, for a total value of $1,152,400.00. Following the sale, the director now owns 6,360 shares of the company’s stock, valued at approximately $366,463.20. The trade was a 75.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 37.40% of the stock is currently owned by corporate insiders.

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.