Vanguard Group Inc. Buys 909,252 Shares of Teladoc, Inc. (NYSE:TDOC)
Vanguard Group Inc. increased its position in shares of Teladoc, Inc. (NYSE:TDOC) by 50.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,727,079 shares of the health services provider’s stock after buying an additional 909,252 shares during the period. Vanguard Group Inc. owned approximately 5.03% of Teladoc worth $68,177,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new stake in shares of Teladoc during the first quarter worth approximately $32,598,000. Ameriprise Financial Inc. boosted its stake in shares of Teladoc by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 131,493 shares of the health services provider’s stock worth $3,288,000 after buying an additional 73,231 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of Teladoc during the first quarter worth approximately $271,000. Swiss National Bank boosted its stake in shares of Teladoc by 37.5% in the first quarter. Swiss National Bank now owns 56,800 shares of the health services provider’s stock worth $1,420,000 after buying an additional 15,500 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Teladoc by 115.3% in the first quarter. Bank of New York Mellon Corp now owns 227,360 shares of the health services provider’s stock worth $5,683,000 after buying an additional 121,736 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.
Teladoc, Inc. (TDOC) traded up 2.15% during trading on Friday, hitting $30.90. 1,348,105 shares of the stock were exchanged. The stock’s market cap is $1.69 billion. Teladoc, Inc. has a 52 week low of $13.49 and a 52 week high of $36.90. The stock has a 50 day moving average of $34.47 and a 200-day moving average of $26.96.
Teladoc (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by $0.02. Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The company had revenue of $44.60 million for the quarter, compared to analysts’ expectations of $44.39 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. Teladoc’s quarterly revenue was up 68.3% compared to the same quarter last year. Equities analysts expect that Teladoc, Inc. will post ($1.27) EPS for the current fiscal year.
A number of analysts have commented on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $39.00 price target (up previously from $36.00) on shares of Teladoc in a research report on Thursday. BidaskClub cut shares of Teladoc from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $42.00 price target on shares of Teladoc in a research report on Friday, July 28th. Zacks Investment Research cut shares of Teladoc from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, TheStreet cut shares of Teladoc from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.55.
In related news, CEO Jason N. Gorevic sold 15,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $23.11, for a total transaction of $346,650.00. Following the transaction, the chief executive officer now owns 833,261 shares in the company, valued at $19,256,661.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason N. Gorevic sold 14,400 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $29.57, for a total transaction of $425,808.00. Following the transaction, the chief executive officer now owns 822,961 shares in the company, valued at approximately $24,334,956.77. The disclosure for this sale can be found here. Insiders have sold 168,380 shares of company stock worth $4,805,918 in the last quarter. 5.94% of the stock is owned by corporate insiders.
Teladoc, Inc 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’s solution connects its Members, with its over 3,000 board certified physicians and behavioral health professionals treating 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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