Teladoc, Inc. (TDOC) Given “Buy” Rating at KeyCorp
TDOC has been the subject of a number of other reports. Piper Jaffray Companies restated a buy rating and set a $42.00 price objective on shares of Teladoc in a research note on Friday, July 28th. Cowen and Company upped their price objective on Teladoc from $29.00 to $36.00 and gave the stock an outperform rating in a research note on Wednesday, May 31st. BidaskClub cut Teladoc from a hold rating to a sell rating in a research note on Thursday, August 3rd. Zacks Investment Research cut Teladoc from a hold rating to a sell rating in a research note on Monday, July 17th. Finally, Cantor Fitzgerald restated a hold rating on shares of Teladoc in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $35.82.
Teladoc (TDOC) opened at 35.95 on Friday. Teladoc has a 52-week low of $14.00 and a 52-week high of $37.55. The stock has a 50 day moving average price of $35.08 and a 200 day moving average price of $29.53. The stock’s market cap is $2.04 billion.
Teladoc (NYSE:TDOC) last issued 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). The company had revenue of $44.60 million for the quarter, compared to analysts’ expectations of $44.39 million. Teladoc had a negative return on equity of 19.88% and a negative net margin of 47.75%. The company’s revenue for the quarter was up 68.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) earnings per share. Analysts expect that Teladoc will post ($1.44) EPS for the current fiscal year.
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In other Teladoc news, insider Adam C. Vandervoort sold 53,806 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $30.92, for a total value of $1,663,681.52. Following the completion of the sale, the insider now directly owns 33,008 shares in the company, valued at $1,020,607.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.47% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Teladoc by 1.3% in the second quarter. FMR LLC now owns 8,209,737 shares of the health services provider’s stock valued at $284,879,000 after buying an additional 106,500 shares during the last quarter. Wellington Management Group LLP raised its stake in Teladoc by 38.9% in the first quarter. Wellington Management Group LLP now owns 4,228,082 shares of the health services provider’s stock valued at $105,701,000 after buying an additional 1,183,435 shares during the last quarter. BlackRock Inc. raised its stake in Teladoc by 42.9% in the second quarter. BlackRock Inc. now owns 3,844,402 shares of the health services provider’s stock valued at $133,400,000 after buying an additional 1,154,852 shares during the last quarter. Vanguard Group Inc. raised its stake in Teladoc by 11.5% in the second quarter. Vanguard Group Inc. now owns 3,041,725 shares of the health services provider’s stock valued at $105,547,000 after buying an additional 314,646 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake 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 last quarter.
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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