Bank of New York Mellon Corp boosted its position in Teladoc Inc. (NYSE:TDOC) by 55.9% during the second quarter, Holdings Channel reports. The firm owned 64,138 shares of the company’s stock after buying an additional 22,997 shares during the period. Bank of New York Mellon Corp owned approximately 0.17% of Teladoc worth $1,027,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust boosted its position in Teladoc by 1.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 502,313 shares of the company’s stock valued at $8,047,000 after buying an additional 6,578 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Teladoc during the second quarter valued at $240,000. CWM LLC boosted its position in Teladoc by 171.7% in the second quarter. CWM LLC now owns 371,358 shares of the company’s stock valued at $5,949,000 after buying an additional 234,678 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Teladoc during the first quarter valued at $479,000. Finally, Harbourvest Partners LLC bought a new position in Teladoc during the first quarter valued at $436,000. Hedge funds and other institutional investors own 40.45% of the company’s stock.
Shares of Teladoc Inc. (NYSE:TDOC) traded down 3.90% on Friday, reaching $15.77. 174,470 shares of the company were exchanged. The stock’s market capitalization is $720.77 million. The firm has a 50 day moving average price of $17.97 and a 200-day moving average price of $14.66. Teladoc Inc. has a 12-month low of $9.08 and a 12-month high of $22.00.
Teladoc (NYSE:TDOC) last released its earnings results on Wednesday, August 3rd. The company reported ($0.38) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.01. The firm had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $28.20 million. Teladoc had a negative net margin of 60.88% and a negative return on equity of 33.97%. The company’s quarterly revenue was up 44.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) earnings per share. On average, analysts predict that Teladoc Inc. will post ($1.45) EPS for the current fiscal year.
TDOC has been the topic of several research analyst reports. FBR & Co reissued a “buy” rating on shares of Teladoc in a report on Sunday, August 28th. Zacks Investment Research cut shares of Teladoc from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 target price (down from $22.00) on shares of Teladoc in a report on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $24.00 target price (down from $25.00) on shares of Teladoc in a report on Friday, August 5th. Finally, Deutsche Bank AG lowered their target price on shares of Teladoc from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.90.
In other Teladoc news, insider Michael H. King sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $17.20, for a total value of $430,000.00. Following the transaction, the insider now directly owns 91,459 shares in the company, valued at $1,573,094.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James K. Outland sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the transaction, the director now owns 49,089 shares in the company, valued at $883,602. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by company insiders.
Teladoc Company Profile
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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