Kayne Anderson Rudnick Investment Management LLC Takes Position in Teladoc, Inc. (TDOC)
Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Teladoc, Inc. (NYSE:TDOC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,830 shares of the health services provider’s stock, valued at approximately $691,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. ETF Managers Group LLC acquired a new position in Teladoc in the second quarter valued at $104,000. Bank of Montreal Can boosted its holdings 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 acquiring an additional 2,397 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Teladoc in the second quarter valued at about $135,000. Fred Alger Management Inc. purchased a new stake in shares of Teladoc in the second quarter valued at about $139,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Teladoc by 134.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,724 shares of the health services provider’s stock valued at $164,000 after acquiring an additional 2,707 shares in the last quarter.
Several brokerages have recently weighed in on TDOC. Canaccord Genuity set a $42.00 target price on shares of Teladoc and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $31.00 target price on shares of Teladoc in a report on Tuesday, September 26th. BidaskClub raised shares of Teladoc from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Teladoc in a report on Saturday, September 30th. Finally, Robert W. Baird downgraded shares of Teladoc from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $36.00 in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.17.
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In other Teladoc news, VP Mark Hirschhorn sold 35,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $32.84, for a total value of $1,149,400.00. Following the sale, the vice president now owns 20,887 shares of the company’s stock, valued at $685,929.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 20,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.47, for a total transaction of $669,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,000 shares of company stock worth $4,408,700. 4.47% of the stock is owned by insiders.
Shares of Teladoc, Inc. (TDOC) opened at $28.40 on Friday. Teladoc, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $37.55. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.08 and a quick ratio of 5.08.
Teladoc (NYSE:TDOC) last released its quarterly earnings data on Wednesday, November 1st. The health services provider reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.25). The company had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $67.53 million. Teladoc had a negative return on equity of 21.59% and a negative net margin of 39.61%. The firm’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. research analysts expect that Teladoc, Inc. will post -1.57 earnings per share for the current year.
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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