Teladoc, Inc. (NYSE:TDOC) Position Raised by First Mercantile Trust Co.
First Mercantile Trust Co. increased its position in shares of Teladoc, Inc. (NYSE:TDOC) by 160.0% during the second quarter, Holdings Channel reports. The institutional investor owned 18,200 shares of the health services provider’s stock after buying an additional 11,200 shares during the period. First Mercantile Trust Co.’s holdings in Teladoc were worth $631,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Teladoc by 10.3% in the first quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock valued at $116,000 after buying an additional 433 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in shares of Teladoc by 1.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 45,225 shares of the health services provider’s stock valued at $1,131,000 after buying an additional 814 shares during the period. Teachers Advisors LLC increased its stake in shares of Teladoc by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 35,205 shares of the health services provider’s stock valued at $581,000 after buying an additional 1,759 shares during the period. Bank of Montreal Can increased its stake in shares of Teladoc by 214.2% in the second quarter. Bank of Montreal Can now owns 3,516 shares of the health services provider’s stock valued at $123,000 after buying an additional 2,397 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Teladoc by 66.3% in the first quarter. Legal & General Group Plc now owns 6,137 shares of the health services provider’s stock valued at $154,000 after buying an additional 2,446 shares during the period. Institutional investors and hedge funds own 94.51% of the company’s stock.
Teladoc, Inc. (TDOC) opened at 30.35 on Monday. The company’s 50 day moving average price is $33.88 and its 200-day moving average price is $27.52. The company’s market capitalization is $1.72 billion. Teladoc, Inc. has a 12-month low of $14.00 and a 12-month high of $36.90.
Teladoc (NYSE:TDOC) last issued its earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) EPS 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 firm had revenue of $44.60 million during the quarter, compared to the consensus estimate of $44.39 million. During the same period in the previous year, the firm earned ($0.38) earnings per share. The business’s quarterly revenue was up 68.3% on a year-over-year basis. Equities analysts forecast that Teladoc, Inc. will post ($1.46) earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. BidaskClub upgraded Teladoc from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Chardan Capital increased their price target on Teladoc from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and issued a $42.00 price target (up from $34.00) on shares of Teladoc in a report on Tuesday, June 20th. Craig Hallum downgraded Teladoc from a “buy” rating to a “hold” rating and increased their price target for the stock from $28.00 to $32.00 in a report on Friday, May 12th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $40.00 price target (up from $27.00) on shares of Teladoc in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.55.
In related news, CEO Jason N. Gorevic sold 19,991 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total value of $657,503.99. Following the completion of the sale, the chief executive officer now directly owns 831,650 shares of the company’s stock, valued at approximately $27,352,968.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Hirschhorn sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were 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 directly owns 80,887 shares of the company’s stock, valued at $2,240,569.90. The disclosure for this sale can be found here. Insiders sold a total of 207,186 shares of company stock valued at $6,122,950 over the last ninety days. 5.94% of the stock is currently owned by corporate insiders.
Teladoc Company Profile
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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