Teladoc, Inc. (TDOC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Teladoc, Inc. (NYSE:TDOC) from a sell rating to a buy rating in a report issued on Wednesday. They currently have $38.00 price target on the health services provider’s stock.
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.”
Other research analysts also recently issued reports about the company. Cowen and Company reiterated an outperform rating and issued a $39.00 target price (up from $36.00) on shares of Teladoc in a research note on Thursday, August 3rd. Piper Jaffray Companies reiterated a buy rating and issued a $32.00 target price on shares of Teladoc in a research note on Friday, July 14th. TheStreet downgraded Teladoc from a c- rating to a d rating in a research note on Monday, July 3rd. BidaskClub downgraded Teladoc from a buy rating to a hold rating in a research note on Tuesday, July 25th. Finally, William Blair reiterated an outperform rating on shares of Teladoc in a research note on Tuesday, June 20th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Teladoc currently has a consensus rating of Buy and an average target price of $38.00.
Teladoc (TDOC) opened at 34.35 on Wednesday. The firm has a 50-day moving average price of $33.36 and a 200-day moving average price of $33.36. Teladoc has a one year low of $14.00 and a one year high of $37.55. The firm’s market capitalization is $1.95 billion.
Teladoc (NYSE:TDOC) last released its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm 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 quarterly revenue was up 68.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) EPS. Equities analysts anticipate that Teladoc will post ($1.44) earnings per share for the current year.
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In related news, insider Adam C. Vandervoort sold 53,806 shares of Teladoc stock in a transaction that occurred on 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 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 can be accessed through this link. Also, VP Mark Hirschhorn sold 25,000 shares of Teladoc stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $31.93, for a total value of $798,250.00. Following the completion of the sale, the vice president now owns 64,987 shares in the company, valued at $2,075,034.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,806 shares of company stock worth $3,471,732. Company insiders own 4.47% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Teladoc by 134.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,724 shares of the health services provider’s stock valued at $164,000 after buying an additional 2,707 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Teladoc by 101.9% in the second quarter. California State Teachers Retirement System now owns 95,321 shares of the health services provider’s stock valued at $3,308,000 after buying an additional 48,112 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Teladoc in the second quarter valued at approximately $202,000. The Manufacturers Life Insurance Company boosted its stake in shares of Teladoc by 132.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,270 shares of the health services provider’s stock valued at $1,432,000 after buying an additional 23,553 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Teladoc in the second quarter valued at approximately $2,316,000.
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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