Teladoc, Inc. (TDOC) Upgraded at Zacks Investment Research
Teladoc, Inc. (NYSE:TDOC) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $38.00 price objective on the health services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.51% from the stock’s previous close.
According to Zacks, “The stock of Teladoc has outperformed the industry year to date. The company is witnessing steady business growth with insurers and customers increasingly embracing telehealth. It’s organic growth initiative remains on track. With a number of acquisitions completed since its inception, the company has expanded its distribution capabilities and broadened its service offering. Its buyout of HealthiestYou has further strengthened its leadership position. Also the company boasts an impressive clientele. The company has also provided strong guidance for 2017.”
A number of other brokerages have also weighed in on TDOC. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $40.00 target price (up from $27.00) on shares of Teladoc in a research note on Friday, June 9th. CIBC upped their price target on shares of Teladoc from $27.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. Robert W. Baird reiterated an “outperform” rating and set a $33.00 price target (up previously from $28.00) on shares of Teladoc in a research report on Friday, June 16th. Cantor Fitzgerald reiterated a “hold” rating and set a $27.00 price target on shares of Teladoc in a research report on Monday, June 19th. Finally, Chardan Capital increased their price objective on shares of Teladoc from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Teladoc has a consensus rating of “Buy” and an average price target of $38.00.
Shares of Teladoc (NYSE TDOC) traded down 0.29% during trading on Wednesday, reaching $34.60. 307,986 shares of the company were exchanged. Teladoc has a 52-week low of $14.00 and a 52-week high of $37.55. The stock’s market capitalization is $1.96 billion. The stock has a 50-day moving average of $33.17 and a 200 day moving average of $33.17.
Teladoc (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). The business had revenue of $44.60 million during the quarter, compared to the consensus estimate of $44.39 million. Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The company’s revenue for the quarter was up 68.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) EPS. On average, equities analysts anticipate that Teladoc will post ($1.44) earnings per share for the current fiscal year.
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In other news, insider Adam C. Vandervoort sold 53,806 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $30.92, for a total value of $1,663,681.52. Following the transaction, the insider now owns 33,008 shares of the company’s stock, valued at approximately $1,020,607.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Hirschhorn sold 25,000 shares of Teladoc stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $31.93, for a total transaction of $798,250.00. Following the sale, the vice president now owns 64,987 shares of the company’s stock, valued at approximately $2,075,034.91. The disclosure for this sale can be found here. Insiders own 4.47% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of Teladoc by 125.7% during the first quarter. Ameriprise Financial Inc. now owns 131,493 shares of the health services provider’s stock worth $3,288,000 after buying an additional 73,231 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Teladoc by 22.2% in the second quarter. Alliancebernstein L.P. now owns 2,793,590 shares of the health services provider’s stock valued at $96,938,000 after buying an additional 507,390 shares during the period. Driehaus Capital Management LLC bought a new position in Teladoc in the first quarter valued at approximately $6,411,000. Blair William & Co. IL bought a new position in Teladoc in the first quarter valued at approximately $218,000. Finally, Swiss National Bank boosted its stake in Teladoc by 37.5% in the first quarter. Swiss National Bank now owns 56,800 shares of the health services provider’s stock valued at $1,420,000 after acquiring an additional 15,500 shares during the last quarter.
Teladoc Company Profile
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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