SOC Telemed, Inc. (NASDAQ:TLMD) Receives Consensus Recommendation of “Buy” from Analysts

Shares of SOC Telemed, Inc. (NASDAQ:TLMD) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $4.38.

TLMD has been the subject of several analyst reports. Zacks Investment Research raised SOC Telemed from a “sell” rating to a “hold” rating in a research note on Thursday. Benchmark lowered their target price on SOC Telemed from $7.00 to $2.00 in a research note on Thursday. Finally, Credit Suisse Group downgraded SOC Telemed from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.00 to $2.00 in a report on Friday, January 7th.

A number of hedge funds and other institutional investors have recently made changes to their positions in TLMD. Bank of New York Mellon Corp lifted its holdings in shares of SOC Telemed by 18,102.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,646,165 shares of the company’s stock valued at $20,746,000 after purchasing an additional 3,626,134 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of SOC Telemed by 108.0% in the 2nd quarter. BlackRock Inc. now owns 5,524,531 shares of the company’s stock valued at $31,435,000 after purchasing an additional 2,868,298 shares during the last quarter. Bleichroeder LP purchased a new stake in shares of SOC Telemed in the 3rd quarter valued at about $5,006,000. Bamco Inc. NY lifted its holdings in shares of SOC Telemed by 85.7% in the 2nd quarter. Bamco Inc. NY now owns 3,250,000 shares of the company’s stock valued at $18,492,000 after purchasing an additional 1,500,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of SOC Telemed by 79.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,643,786 shares of the company’s stock valued at $15,043,000 after purchasing an additional 1,170,875 shares during the last quarter. 66.23% of the stock is owned by institutional investors.

TLMD traded down $0.05 on Friday, hitting $0.87. 827,171 shares of the company were exchanged, compared to its average volume of 647,328. SOC Telemed has a twelve month low of $0.86 and a twelve month high of $9.48. The company has a market cap of $87.60 million, a price-to-earnings ratio of -0.38 and a beta of 0.04. The company has a current ratio of 3.33, a quick ratio of 3.25 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $2.73.

SOC Telemed (NASDAQ:TLMD) last released its earnings results on Friday, November 12th. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. SOC Telemed had a negative return on equity of 49.59% and a negative net margin of 77.17%. The firm had revenue of $26.68 million during the quarter, compared to analysts’ expectations of $25.90 million. During the same period in the previous year, the firm posted ($0.14) EPS. Equities analysts expect that SOC Telemed will post -0.67 EPS for the current year.

SOC Telemed Company Profile

SOC Telemed, Inc provides acute care telemedicine services and technology to hospitals, health systems, physician groups, and government organizations in the United States. The company's technology platform, Telemed IQ, provides telemedicine programs. Its telemedicine solutions include teleNeurology, telePulmonology, telePsychiatry, and teleICU.

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Analyst Recommendations for SOC Telemed (NASDAQ:TLMD)

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