Teladoc, Inc. (TDOC) Rating Increased to Hold at Zacks Investment Research
Teladoc, Inc. (NYSE:TDOC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Teladoc’s stock has outperformed the industry year to date. The company is seeing a steady growth in its business with insurers and customers increasingly embracing telehealth. The company also made some effort to grow inorganically a with a number of acquisitions made since its inception, which has expanded its distribution capabilities and broadened its service offering. The company is a leader in its sector and boasts of big clients. Its strong guidance for 2017 instills optimism. Nevertheless, Teladoc has incurred significant losses from past many years. Also, Teladoc has been unable to generate cash from operations and we have doubts over its ability to do so in the coming quarters.”
TDOC has been the subject of a number of other reports. BidaskClub raised Teladoc from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies reissued a “buy” rating and set a $42.00 price target on shares of Teladoc in a research note on Friday, July 28th. Chardan Capital raised their price target on Teladoc from $30.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Cantor Fitzgerald reissued a “hold” rating and set a $27.00 price target on shares of Teladoc in a research note on Monday, June 19th. Finally, Robert W. Baird reissued an “outperform” rating and set a $33.00 price target (up from $28.00) on shares of Teladoc in a research note on Friday, June 16th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $35.82.
Teladoc (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.02). Teladoc had a negative return on equity of 19.88% and a negative net margin of 47.75%. The business had revenue of $44.60 million for the quarter, compared to the consensus estimate of $44.39 million. During the same period in the prior year, the business posted ($0.38) earnings per share. Teladoc’s revenue was up 68.3% on a year-over-year basis.
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In other Teladoc news, insider Adam C. Vandervoort sold 53,806 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $30.92, for a total transaction of $1,663,681.52. Following the transaction, the insider now directly owns 33,008 shares in the company, valued at approximately $1,020,607.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.47% of the company’s stock.
Several large investors have recently made changes to their positions in TDOC. FMR LLC increased its holdings in shares of Teladoc by 163.5% in the 1st quarter. FMR LLC now owns 8,103,237 shares of the health services provider’s stock valued at $202,581,000 after acquiring an additional 5,028,237 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Teladoc in the 2nd quarter valued at $58,287,000. JPMorgan Chase & Co. increased its holdings in shares of Teladoc by 8,826.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,606,535 shares of the health services provider’s stock valued at $40,163,000 after acquiring an additional 1,588,538 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Teladoc by 211.1% in the 1st quarter. Alliancebernstein L.P. now owns 2,286,200 shares of the health services provider’s stock valued at $57,155,000 after acquiring an additional 1,551,315 shares during the period. Finally, Janus Capital Management LLC purchased a new position in shares of Teladoc in the 1st quarter valued at $37,258,000.
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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