Teladoc, Inc. (TDOC) Upgraded to Buy 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 morning. Zacks Investment Research currently has $38.00 target price 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 equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a hold rating and set a $31.00 price objective on shares of Teladoc in a research report on Tuesday, September 26th. Cowen and Company reaffirmed an outperform rating and set a $39.00 price objective on shares of Teladoc in a research report on Saturday, September 30th. BidaskClub raised shares of Teladoc from a sell rating to a hold rating in a research report on Wednesday, August 9th. Canaccord Genuity reaffirmed a buy rating and set a $42.00 price objective (up previously from $34.00) on shares of Teladoc in a research report on Tuesday, June 20th. Finally, Chardan Capital boosted their price objective on shares of Teladoc from $30.00 to $41.00 and gave the company a buy rating in a research report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $38.00.
Teladoc (NYSE:TDOC) traded down 1.29% during trading on Wednesday, hitting $34.35. The company had a trading volume of 432,295 shares. The company’s market cap is $1.95 billion. The company’s 50 day moving average price is $33.26 and its 200-day moving average price is $33.26. Teladoc has a 12 month low of $14.00 and a 12 month high of $37.55.
Teladoc (NYSE:TDOC) last announced 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). Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The business had revenue of $44.60 million for the quarter, compared to the consensus estimate of $44.39 million. During the same period in the prior year, the company earned ($0.38) EPS. Teladoc’s quarterly revenue was up 68.3% on a year-over-year basis. Equities analysts expect that Teladoc will post ($1.44) earnings per share for the current year.
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In other Teladoc news, insider Adam C. Vandervoort sold 53,806 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $30.92, for a total value of $1,663,681.52. Following the completion of the transaction, the insider now owns 33,008 shares in the company, valued at approximately $1,020,607.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark Hirschhorn sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $34.04, for a total transaction of $340,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,806 shares of company stock valued at $3,471,732. 4.47% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its holdings in shares of Teladoc by 10.3% in the first quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock valued at $116,000 after acquiring an additional 433 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Teladoc by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 35,205 shares of the health services provider’s stock valued at $581,000 after acquiring an additional 1,759 shares in the last quarter. Rosenblum Silverman Sutton S F Inc. CA boosted its holdings in shares of Teladoc by 2.7% in the second quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 67,395 shares of the health services provider’s stock valued at $2,339,000 after acquiring an additional 1,800 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Teladoc by 214.2% in the second quarter. Bank of Montreal Can now owns 3,516 shares of the health services provider’s stock valued at $123,000 after acquiring an additional 2,397 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Teladoc by 66.3% in the first quarter. Legal & General Group Plc now owns 6,137 shares of the health services provider’s stock valued at $154,000 after acquiring an additional 2,446 shares in 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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