Tavio Capital LLC Has $5.30 Million Position in Teladoc, Inc. (TDOC)
Tavio Capital LLC cut its holdings in Teladoc, Inc. (NYSE:TDOC) by 23.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,011 shares of the health services provider’s stock after selling 50,000 shares during the quarter. Teladoc makes up approximately 2.2% of Tavio Capital LLC’s holdings, making the stock its 10th largest holding. Tavio Capital LLC owned about 0.28% of Teladoc worth $5,304,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC purchased a new stake in Teladoc in the second quarter worth about $58,287,000. Janus Capital Management LLC purchased a new stake in Teladoc in the first quarter worth about $37,258,000. BlackRock Inc. lifted its holdings in Teladoc by 42.9% in the second quarter. BlackRock Inc. now owns 3,844,402 shares of the health services provider’s stock worth $133,400,000 after buying an additional 1,154,852 shares during the period. Victory Capital Management Inc. purchased a new stake in Teladoc in the third quarter worth about $35,360,000. Finally, JPMorgan Chase & Co. lifted its holdings in Teladoc by 65.8% in the second quarter. JPMorgan Chase & Co. now owns 2,663,600 shares of the health services provider’s stock worth $92,426,000 after buying an additional 1,057,065 shares during the period.
In other news, CEO Jason N. Gorevic sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.47, for a total value of $669,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam C. Vandervoort sold 53,806 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 33,008 shares in the company, valued at $1,020,607.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,806 shares of company stock worth $5,430,382. Company insiders own 4.47% of the company’s stock.
Teladoc (NYSE:TDOC) last announced its earnings results on Wednesday, November 1st. The health services provider reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.25). Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The company had revenue of $68.70 million during the quarter, compared to analyst estimates of $67.53 million. During the same quarter last year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 112.0% compared to the same quarter last year.
Several research firms have recently issued reports on TDOC. Zacks Investment Research lowered shares of Teladoc from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Cantor Fitzgerald restated a “hold” rating on shares of Teladoc in a report on Monday, August 28th. Piper Jaffray Companies restated a “buy” rating and issued a $32.00 price objective on shares of Teladoc in a report on Friday, July 14th. BidaskClub upgraded shares of Teladoc from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Robert W. Baird downgraded shares of Teladoc from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $36.00 in a research report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $38.00.
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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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