Insider Selling: Teladoc, Inc. (TDOC) CEO Sells 20,000 Shares of Stock
Teladoc, Inc. (NYSE:TDOC) CEO Jason N. Gorevic sold 20,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.47, for a total transaction of $669,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Teladoc, Inc. (TDOC) traded up 0.29% during midday trading on Wednesday, hitting $34.80. 488,739 shares of the company traded hands. The stock’s market capitalization is $1.97 billion. The stock has a 50 day moving average of $33.17 and a 200-day moving average of $33.17. Teladoc, Inc. has a 52 week low of $14.00 and a 52 week high of $37.55.
Teladoc (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, August 2nd. The health services provider reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $44.39 million. During the same period in the previous year, the firm posted ($0.38) EPS. The firm’s revenue for the quarter was up 68.3% compared to the same quarter last year. Equities analysts forecast that Teladoc, Inc. will post ($1.44) earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in TDOC. ETF Managers Group LLC purchased a new stake in Teladoc during the second quarter valued at about $104,000. Bank of Montreal Can lifted its stake in Teladoc by 214.2% during the second quarter. Bank of Montreal Can now owns 3,516 shares of the health services provider’s stock worth $123,000 after purchasing an additional 2,397 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Teladoc during the second quarter worth about $135,000. Fred Alger Management Inc. purchased a new position in shares of Teladoc in the 2nd quarter worth about $139,000. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Teladoc in the 1st quarter worth about $105,000.
TDOC has been the subject of several analyst reports. TheStreet cut shares of Teladoc from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Zacks Investment Research downgraded shares of Teladoc from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Cantor Fitzgerald reiterated a “hold” rating on shares of Teladoc in a research report on Monday, August 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $32.00 price target on shares of Teladoc in a research report on Friday, July 14th. Finally, BidaskClub raised shares of Teladoc from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.00.
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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