Canaccord Genuity reissued their buy rating on shares of Teladoc, Inc. (NYSE:TDOC) in a report released on Wednesday, May 24th. The brokerage currently has a $34.00 price objective on the health services provider’s stock.
Several other brokerages have also recently issued reports on TDOC. Zacks Investment Research raised Teladoc from a sell rating to a hold rating in a research report on Thursday, May 11th. Craig Hallum cut Teladoc from a buy rating to a hold rating and raised their target price for the stock from $28.00 to $32.00 in a research report on Friday, May 12th. KeyCorp began coverage on Teladoc in a research report on Wednesday, May 17th. They issued an overweight rating and a $37.00 target price on the stock. TheStreet raised Teladoc from a d rating to a c- rating in a research report on Thursday, April 13th. Finally, Chardan Capital reissued a buy rating on shares of Teladoc in a research report on Monday, March 27th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $31.31.
Teladoc (NYSE:TDOC) traded up 1.95% during midday trading on Wednesday, reaching $34.00. 996,659 shares of the company’s stock traded hands. Teladoc has a one year low of $12.31 and a one year high of $34.60. The stock’s 50 day moving average price is $29.48 and its 200-day moving average price is $23.00. The stock’s market cap is $1.85 billion.
Teladoc (NYSE:TDOC) last released its quarterly earnings data on Monday, May 8th. The health services provider reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $42.90 million during the quarter, compared to the consensus estimate of $42.22 million. Teladoc had a negative return on equity of 24.73% and a negative net margin of 53.58%. Teladoc’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same period last year, the company earned ($0.40) EPS. Equities analysts predict that Teladoc will post ($0.88) earnings per share for the current year.
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In related news, CEO Jason N. Gorevic sold 13,389 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $32.89, for a total value of $440,364.21. Following the transaction, the chief executive officer now directly owns 831,650 shares of the company’s stock, valued at approximately $27,352,968.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 19,991 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 831,650 shares in the company, valued at $27,352,968.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,480 shares of company stock worth $6,439,354. 5.94% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position in Teladoc by 10.3% in the first quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock worth $116,000 after buying an additional 433 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its stake in Teladoc by 1.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 45,225 shares of the health services provider’s stock worth $1,131,000 after buying an additional 814 shares during 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 during the last quarter. Legal & General Group Plc increased its stake in Teladoc by 66.3% in the first quarter. Legal & General Group Plc now owns 6,137 shares of the health services provider’s stock worth $154,000 after buying an additional 2,446 shares during the last quarter. Finally, American International Group Inc. increased its stake in Teladoc by 22.2% in the first quarter. American International Group Inc. now owns 14,575 shares of the health services provider’s stock worth $364,000 after buying an additional 2,644 shares during the last quarter. 94.61% of the stock is currently owned by institutional investors.
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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