Teladoc’s (TDOC) Buy Rating Reiterated at SunTrust Banks, Inc.
Teladoc, Inc. (NYSE:TDOC)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a report issued on Friday. They currently have a $40.00 price target on the health services provider’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 23.08% from the company’s current price.
TDOC has been the subject of several other research reports. Cowen and Company reiterated an “outperform” rating and set a $39.00 target price (up previously from $36.00) on shares of Teladoc in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $32.00 target price on shares of Teladoc in a research report on Friday, July 14th. BidaskClub cut Teladoc from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Cantor Fitzgerald reiterated a “hold” rating on shares of Teladoc in a research report on Monday, August 28th. Finally, Robert W. Baird cut Teladoc from an “outperform” rating to a “neutral” rating and increased 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 nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $38.17.
Shares of Teladoc (NYSE:TDOC) opened at $32.50 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 23.22 and a current ratio of 5.08.
Teladoc (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, November 1st. The health services provider reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.25). The company had revenue of $68.70 million during the quarter, compared to analysts’ expectations of $67.53 million. Teladoc had a negative return on equity of 21.59% and a negative net margin of 39.61%. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.33) EPS. research analysts predict that Teladoc will post -1.57 EPS for the current fiscal year.
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In other news, insider Adam C. Vandervoort sold 53,806 shares of Teladoc stock in a transaction 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 transaction, the insider now directly owns 33,008 shares in the company, valued at approximately $1,020,607.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mark Hirschhorn sold 25,000 shares of Teladoc stock in a transaction 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 transaction, 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. Insiders have sold a total of 168,806 shares of company stock worth $5,430,382 over the last 90 days. 4.47% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Teladoc by 1.3% in the 2nd quarter. FMR LLC now owns 8,209,737 shares of the health services provider’s stock valued at $284,879,000 after acquiring an additional 106,500 shares during the period. BlackRock Inc. increased its holdings in shares of Teladoc by 42.9% in the 2nd quarter. BlackRock Inc. now owns 3,844,402 shares of the health services provider’s stock valued at $133,400,000 after acquiring an additional 1,154,852 shares during the period. Vanguard Group Inc. increased its holdings in shares of Teladoc by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,041,725 shares of the health services provider’s stock valued at $105,547,000 after acquiring an additional 314,646 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Teladoc by 22.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,793,590 shares of the health services provider’s stock valued at $96,938,000 after acquiring an additional 507,390 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Teladoc by 65.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,663,600 shares of the health services provider’s stock valued at $92,426,000 after acquiring an additional 1,057,065 shares during the period.
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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