Teladoc, Inc. (NYSE:TDOC) Receives Average Rating of “Buy” from Brokerages
Teladoc, Inc. (NYSE:TDOC) has been given a consensus rating of “Buy” by the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $37.30.
A number of analysts have weighed in on the company. BidaskClub upgraded Teladoc from a “sell” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price target (up from $34.00) on shares of Teladoc in a research report on Tuesday, June 20th. Chardan Capital upped their price target on Teladoc from $30.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, June 20th. Craig Hallum cut Teladoc from a “buy” rating to a “hold” rating and upped their price target for the company from $28.00 to $32.00 in a research report on Friday, May 12th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $40.00 price target (up from $27.00) on shares of Teladoc in a research report on Friday, June 9th.
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In related news, VP Mark Hirschhorn sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $27.70, for a total value of $2,770,000.00. Following the completion of the sale, the vice president now owns 80,887 shares in the company, valued at $2,240,569.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam C. Vandervoort sold 53,806 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $30.92, for a total value of $1,663,681.52. Following the completion of the sale, the insider now owns 33,008 shares of the company’s stock, valued at approximately $1,020,607.36. The disclosure for this sale can be found here. Insiders have sold 207,186 shares of company stock worth $6,122,950 in the last ninety days. 5.94% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in TDOC. State Street Corp increased its stake in Teladoc by 2.5% in the fourth quarter. State Street Corp now owns 381,703 shares of the health services provider’s stock worth $6,309,000 after buying an additional 9,146 shares in the last quarter. Teachers Advisors LLC increased its stake in Teladoc by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 35,205 shares of the health services provider’s stock worth $581,000 after buying an additional 1,759 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Teladoc during the first quarter worth approximately $175,000. Russell Investments Group Ltd. bought a new stake in Teladoc during the first quarter worth approximately $583,000. Finally, Wells Fargo & Company MN increased its stake in Teladoc by 43.8% in the first quarter. Wells Fargo & Company MN now owns 543,568 shares of the health services provider’s stock worth $13,589,000 after buying an additional 165,435 shares in the last quarter. Institutional investors and hedge funds own 95.88% of the company’s stock.
Shares of Teladoc (TDOC) opened at 30.35 on Friday. The company’s market capitalization is $1.72 billion. The firm has a 50-day moving average price of $33.88 and a 200-day moving average price of $27.52. Teladoc has a 1-year low of $14.00 and a 1-year high of $36.90.
Teladoc (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $44.39 million. During the same quarter last year, the company earned ($0.38) earnings per share. The business’s revenue was up 68.3% on a year-over-year basis. Equities analysts anticipate that Teladoc will post ($1.47) earnings per share for the current year.
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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