Teladoc Inc. (TDOC) Downgraded by Zacks Investment Research to “Sell”
Teladoc Inc. (NYSE:TDOC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Teladoc has incurred significant losses in each quarter since 2013. As of Dec 31, 2015, it had an accumulated deficit of $130.5 million. These losses pertain to substantial investments made for growth. For full-year 2016, it is expected to report a net loss per share of $1.47 to $1.52. Nevertheless, the company is witnessing steady business growth with insurers and customers increasingly embracing telehealth. Teladoc’s organic growth initiative remains on track. With four acquisitions completed since its inception, the insurer has expanded its distribution capabilities and broadened its service offering. Its buyout of HealthiestYou is expected to further solidify its leadership position. The company also boasts an impressive clientele.”
A number of other equities research analysts also recently commented on the company. FBR & Co reiterated a “buy” rating on shares of Teladoc in a research report on Sunday, August 28th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $24.00 price objective (down previously from $25.00) on shares of Teladoc in a research report on Friday, August 5th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $21.00 price objective (down previously from $22.00) on shares of Teladoc in a research report on Friday, August 5th. Deutsche Bank AG cut their price objective on Teladoc from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Finally, Stifel Nicolaus assumed coverage on Teladoc in a research report on Wednesday, June 1st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Teladoc presently has a consensus rating of “Buy” and an average price target of $22.90.
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Teladoc (NYSE:TDOC) traded down 0.53% during midday trading on Tuesday, reaching $18.80. The company’s stock had a trading volume of 195,945 shares. The firm’s market capitalization is $859.25 million. The stock’s 50-day moving average price is $17.90 and its 200-day moving average price is $13.87. Teladoc has a 12 month low of $9.08 and a 12 month high of $24.69.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. Teladoc had a negative return on equity of 33.97% and a negative net margin of 60.88%. The company earned $26.50 million during the quarter, compared to the consensus estimate of $28.20 million. During the same quarter in the prior year, the firm earned ($0.46) EPS. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. Analysts predict that Teladoc will post ($1.45) EPS for the current year.
In other news, CEO Jason N. Gorevic sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $17.92, for a total value of $716,800.00. Following the transaction, the chief executive officer now directly owns 967,258 shares of the company’s stock, valued at $17,333,263.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam C. Vandervoort sold 52,865 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $16.64, for a total transaction of $879,673.60. Following the completion of the transaction, the insider now directly owns 46,685 shares in the company, valued at $776,838.40. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new position in Teladoc during the first quarter worth $106,000. US Bancorp DE increased its position in Teladoc by 31.7% in the second quarter. US Bancorp DE now owns 7,507 shares of the company’s stock valued at $120,000 after buying an additional 1,805 shares during the last quarter. American International Group Inc. increased its position in Teladoc by 109.4% in the second quarter. American International Group Inc. now owns 11,945 shares of the company’s stock valued at $191,000 after buying an additional 6,240 shares during the last quarter. Airain ltd acquired a new position in Teladoc during the second quarter valued at approximately $200,000. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Teladoc during the second quarter valued at approximately $240,000. 40.45% of the stock is currently owned by institutional investors and hedge funds.
Teladoc, Inc, together with its subsidiaries, 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 operates through health services segment. Its solution connects its Members, with its over 3,000 board-certified physicians and behavioral health professionals who treat 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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