Insider Selling: Teladoc, Inc. (TDOC) VP Sells 25,000 Shares of Stock
Teladoc, Inc. (NYSE:TDOC) VP Mark Hirschhorn sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $31.93, for a total value of $798,250.00. Following the transaction, the vice president now directly owns 64,987 shares in the company, valued at $2,075,034.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $44.60 million during the quarter, compared to analysts’ expectations of $44.39 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. Teladoc’s revenue was up 68.3% on a year-over-year basis.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. ETF Managers Group LLC purchased a new position in Teladoc in the 2nd quarter worth approximately $104,000. Great West Life Assurance Co. Can purchased a new position in Teladoc in the 1st quarter worth approximately $105,000. US Bancorp DE raised its holdings in Teladoc by 10.3% in the 1st quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock worth $116,000 after acquiring an additional 433 shares during the last quarter. Bank of Montreal Can raised its holdings in Teladoc by 214.2% in the 2nd quarter. Bank of Montreal Can now owns 3,516 shares of the health services provider’s stock worth $123,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in Teladoc in the 2nd quarter worth approximately $135,000.
TDOC has been the subject of a number of recent research reports. Canaccord Genuity reissued a “buy” rating and set a $42.00 price objective (up from $34.00) on shares of Teladoc in a report on Tuesday, June 20th. Chardan Capital boosted their price objective on Teladoc from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Piper Jaffray Companies reissued a “buy” rating and set a $32.00 price objective on shares of Teladoc in a report on Friday, July 14th. KeyCorp reissued a “buy” rating and set a $37.00 price objective on shares of Teladoc in a report on Sunday, September 17th. Finally, TheStreet lowered Teladoc from a “c-” rating to a “d” rating in a report on Monday, July 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Teladoc presently has a consensus rating of “Buy” and an average price target of $35.82.
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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