Teladoc Inc. (TDOC) Downgraded to “Sell” at Zacks Investment Research
Teladoc Inc. (NYSE:TDOC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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 have also recently weighed in on the company. FBR & Co restated a “buy” rating on shares of Teladoc in a research note on Sunday, August 28th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $24.00 price target (down from $25.00) on shares of Teladoc in a research note on Friday, August 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $21.00 price target (down from $22.00) on shares of Teladoc in a research note on Friday, August 5th. Deutsche Bank AG decreased their price target on Teladoc from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Finally, Stifel Nicolaus started coverage on Teladoc in a research note on Wednesday, June 1st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.90.
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Teladoc (NYSE:TDOC) traded down 0.48% on Tuesday, hitting $18.81. The stock had a trading volume of 174,732 shares. Teladoc has a 12 month low of $9.08 and a 12 month high of $24.69. The stock’s market cap is $859.71 million. The company’s 50 day moving average is $17.90 and its 200-day moving average is $13.87.
Teladoc (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. The firm earned $26.50 million during the quarter, compared to analysts’ expectations of $28.20 million. Teladoc had a negative return on equity of 33.97% and a negative net margin of 60.88%. The firm’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.46) EPS. Analysts forecast that Teladoc will post ($1.45) EPS for the current year.
In related news, CEO Jason N. Gorevic sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $17.92, for a total transaction of $716,800.00. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director James K. Outland sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the director now directly owns 59,089 shares in the company, valued at $886,335. The disclosure for this sale can be found here. Corporate insiders own 5.94% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new stake in shares of Teladoc during the fourth quarter valued at approximately $2,669,000. Principal Financial Group Inc. raised its stake in shares of Teladoc by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 103,827 shares of the company’s stock valued at $1,865,000 after buying an additional 4,258 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Teladoc by 156.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 302,732 shares of the company’s stock valued at $5,437,000 after buying an additional 184,732 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Teladoc by 17.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,432,006 shares of the company’s stock valued at $25,718,000 after buying an additional 214,895 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Teladoc by 63.7% in the fourth quarter. Brown Advisory Inc. now owns 807,851 shares of the company’s stock valued at $14,510,000 after buying an additional 314,342 shares during the last quarter. 40.45% of the stock is currently owned by institutional investors.
Teladoc Company Profile
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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