Teladoc Inc. (TDOC) Cut to “Sell” at Zacks Investment Research
According to Zacks, “Teladoc has incurred significant losses in each quarter since 2013. As of Dec 31, 2015, it had an accumulated deficit of $130.5 million. These losses pertain to substantial investments made for growth. For full-year 2016, it is expected to report a net loss per share of $1.47 to $1.52. Nevertheless, the company is witnessing steady business growth with insurers and customers increasingly embracing telehealth. Teladoc’s organic growth initiative remains on track. With four acquisitions completed since its inception, the insurer has expanded its distribution capabilities and broadened its service offering. Its buyout of HealthiestYou is expected to further solidify its leadership position. The company also boasts an impressive clientele.”
TDOC has been the topic of a number of other reports. Deutsche Bank AG decreased their price objective on Teladoc from $21.00 to $20.00 and set a buy rating on the stock in a report on Thursday, August 4th. FBR & Co decreased their price objective on Teladoc from $34.00 to $28.00 and set an outperform rating on the stock in a report on Thursday, August 4th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $24.00 price objective (down from $25.00) on shares of Teladoc in a report on Friday, August 5th. Piper Jaffray Cos. reissued an overweight rating and issued a $21.00 target price (down from $22.00) on shares of Teladoc in a report on Friday, August 5th. Finally, Stifel Nicolaus initiated coverage on Teladoc in a report on Wednesday, June 1st. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $22.90.
Shares of Teladoc (NYSE:TDOC) opened at 18.95 on Tuesday. The company’s market capitalization is $866.11 million. The stock’s 50 day moving average price is $17.99 and its 200 day moving average price is $13.99. Teladoc has a 1-year low of $9.08 and a 1-year high of $24.50.
Teladoc (NYSE:TDOC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. The company had revenue of $26.50 million for the quarter, compared to the consensus estimate of $28.20 million. Teladoc had a negative return on equity of 33.97% and a negative net margin of 60.88%. The company’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) earnings per share. Analysts expect that Teladoc will post ($1.45) EPS for the current year.
In related news, CEO Jason N. Gorevic sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $15.01, for a total value of $75,050.00. Following the completion of the transaction, the chief executive officer now owns 932,258 shares in the company, valued at approximately $13,993,192.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam C. Vandervoort sold 52,865 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $16.64, for a total transaction of $879,673.60. Following the completion of the transaction, the insider now owns 46,685 shares of the company’s stock, valued at approximately $776,838.40. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TDOC. US Bancorp DE boosted its position in Teladoc by 31.7% in the second quarter. US Bancorp DE now owns 7,507 shares of the company’s stock valued at $120,000 after buying an additional 1,805 shares during the period. UBS Asset Management Americas Inc. bought a new position in Teladoc during the first quarter valued at $106,000. American International Group Inc. boosted its position in Teladoc by 109.4% in the second quarter. American International Group Inc. now owns 11,945 shares of the company’s stock valued at $191,000 after buying an additional 6,240 shares during the period. Airain ltd bought a new position in Teladoc during the second quarter valued at $200,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new position in Teladoc during the second quarter valued at $240,000. Hedge funds and other institutional investors own 40.45% of the company’s stock.
Teladoc Company Profile
Teladoc, Inc, together with its subsidiaries, is a telehealth company. The Company offers telehealth platform, delivering on-demand healthcare anytime, anywhere, through mobile devices, the Internet, video and phone. The Company operates through health services segment. Its solution connects its Members, with its over 3,000 board-certified physicians and behavioral health professionals who treat a range of conditions and cases from acute diagnoses, such as upper respiratory infection, urinary tract infection and sinusitis to dermatological conditions, anxiety and smoking cessation.
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