Several other analysts have also weighed in on the company. Craig Hallum initiated coverage on Teladoc in a report on Monday, November 28th. They issued a buy rating and a $24.00 price objective for the company. Zacks Investment Research lowered Teladoc from a hold rating to a sell rating in a research report on Tuesday, September 20th. Canaccord Genuity initiated coverage on Teladoc in a research report on Wednesday, January 4th. They set a buy rating and a $24.00 target price on the stock. Cantor Fitzgerald initiated coverage on Teladoc in a research report on Thursday, January 5th. They set an overweight rating and a $25.00 target price on the stock. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating on shares of Teladoc in a research report on Tuesday, December 20th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $23.07.
Shares of Teladoc (NYSE:TDOC) traded up 0.55% during mid-day trading on Tuesday, reaching $18.15. The company’s stock had a trading volume of 610,102 shares. The company’s market capitalization is $835.48 million. Teladoc has a 52-week low of $9.08 and a 52-week high of $19.53. The firm’s 50 day moving average is $17.33 and its 200-day moving average is $17.18.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.03. The business earned $32.40 million during the quarter, compared to analyst estimates of $32.29 million. Teladoc had a negative return on equity of 32.68% and a negative net margin of 69.15%. The company’s revenue was up 62.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. Analysts forecast that Teladoc will post ($1.43) EPS for the current year.
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In related news, VP Mark Hirschhorn sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $17.50, for a total transaction of $87,500.00. Following the completion of the sale, the vice president now owns 267,687 shares in the company, valued at approximately $4,684,522.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Lp Chp III sold 500,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $16.36, for a total value of $8,180,000.00. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its stake in shares of Teladoc by 186.7% in the third quarter. Capital World Investors now owns 3,295,269 shares of the company’s stock valued at $60,336,000 after buying an additional 2,146,021 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Teladoc during the third quarter worth approximately $13,106,000. Sectoral Asset Management Inc. increased its stake in shares of Teladoc by 50.1% in the second quarter. Sectoral Asset Management Inc. now owns 1,464,221 shares of the company’s stock worth $23,457,000 after buying an additional 488,688 shares in the last quarter. EverPoint Asset Management LLC purchased a new stake in shares of Teladoc during the second quarter worth approximately $5,207,000. Finally, Tamarack Advisers LP purchased a new stake in shares of Teladoc during the third quarter worth approximately $5,818,000. Hedge funds and other institutional investors own 53.34% of the company’s stock.
Teladoc, Inc, together with its subsidiaries, 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 operates through health services segment. Its solution connects its Members, with its over 3,000 board-certified physicians and behavioral health professionals who treat 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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