Teladoc, Inc. (TDOC) Given “Outperform” Rating at CIBC

Teladoc, Inc. (NYSE:TDOC)‘s stock had its “outperform” rating restated by research analysts at CIBC in a report released on Tuesday. They currently have a $45.00 price target on the health services provider’s stock, up from their prior price target of $40.00. CIBC’s price target points to a potential upside of 42.86% from the company’s current price.

A number of other research analysts also recently weighed in on TDOC. Oppenheimer Holdings, Inc. upped their target price on Teladoc from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday. BidaskClub upgraded Teladoc from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and set a $39.00 target price on shares of Teladoc in a report on Saturday, September 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 target price on shares of Teladoc in a report on Friday, September 29th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $31.00 target price on shares of Teladoc in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $39.00.

Teladoc (NYSE TDOC) opened at $31.50 on Tuesday. Teladoc has a twelve month low of $15.65 and a twelve month high of $37.55. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 0.83.

Teladoc (NYSE:TDOC) last posted its earnings results on Wednesday, November 1st. The health services provider reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.25). Teladoc had a negative return on equity of 21.59% and a negative net margin of 39.61%. The firm had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $67.53 million. During the same quarter last year, the company posted ($0.33) EPS. The firm’s revenue was up 112.0% on a year-over-year basis. equities research analysts predict that Teladoc will post -1.57 earnings per share for the current year.

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In other news, CEO Jason N. Gorevic sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $33.47, for a total value of $669,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Hirschhorn sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $32.37, for a total value of $809,250.00. Following the completion of the sale, the chief financial officer now directly owns 20,887 shares in the company, valued at $676,112.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,000 shares of company stock worth $4,408,700. Insiders own 4.47% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. ETF Managers Group LLC bought a new position in Teladoc in the 2nd quarter valued at approximately $104,000. Bank of Montreal Can lifted its position in Teladoc by 214.2% in the 2nd 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. Pacad Investment Ltd. bought a new position in Teladoc in the 2nd quarter valued at approximately $135,000. Fred Alger Management Inc. bought a new position in Teladoc in the 2nd quarter valued at approximately $139,000. Finally, Ameritas Investment Partners Inc. lifted its position in Teladoc by 134.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,724 shares of the health services provider’s stock valued at $164,000 after acquiring an additional 2,707 shares in the last quarter.

About Teladoc

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.

Analyst Recommendations for Teladoc (NYSE:TDOC)

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