William Blair Dumps $21 Million of Healthcare Platform Doximity Stock

Core Insights - William Blair Investment Management reduced its position in Doximity by 372,184 shares, valued at approximately $20.89 million, during Q4 2025, resulting in a decrease of $184.77 million in the quarter-end value of its Doximity stake [1][2] Company Overview - Doximity operates a cloud-based digital platform that connects U.S. medical professionals, serving healthcare and pharmaceutical clients [5] - As of February 6, 2026, Doximity's stock price was $27.73, with a market capitalization of $5.09 billion, revenue of $637.78 million, and net income of $239.40 million [4] Stock Performance - Doximity shares have declined by 66% year-over-year, significantly underperforming the S&P 500 by 82 percentage points [3] - The stock is currently trading at 17 times free cash flow, marking its lowest-ever valuation [8] Revenue and Growth - Doximity generates revenue primarily from pharmaceutical manufacturers and healthcare systems, targeting physicians and medical organizations [7] - Sales growth has slowed from 23% in Q3 of the previous year to 10% this year, with management guiding for only 4% growth in Q4 [9]