Teladoc, Inc. (NYSE:TDOC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Teladoc has incurred significant losses in each period since its inception. These losses and accumulated deficit stemmed from the substantial investments made by the company to acquire new clients, build its proprietary network of healthcare providers and develop its technology platform. For 2017, Teladoc is anticipated to report a loss of $46 million–$49 million. Nevertheless, Teladoc is witnessing steady business growth with insurers and customers increasingly embracing tele-health. With five acquisitions completed since its inception, the insurer has expanded its distribution capabilities and broadened its service offering. However, year to date the stock has given a stupendous performance outperforming the Zacks categorized Medical Services industry.”
Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Teladoc in a research note on Wednesday, May 24th. Chardan Capital reissued a “buy” rating on shares of Teladoc in a research report on Monday, March 27th. Robert W. Baird reissued a “buy” rating and set a $28.00 price target on shares of Teladoc in a research report on Tuesday, May 9th. Piper Jaffray Companies reissued a “buy” rating and set a $32.00 price target on shares of Teladoc in a research report on Friday. Finally, TheStreet raised shares of Teladoc from a “d” rating to a “c-” rating in a research report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.77.
Teladoc (NYSE:TDOC) traded down 1.69% during trading on Monday, hitting $34.85. 128,677 shares of the stock traded hands. The company has a 50-day moving average price of $31.90 and a 200-day moving average price of $24.09. Teladoc has a 12 month low of $13.49 and a 12 month high of $36.90. The stock’s market cap is $1.90 billion.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Monday, May 8th. The health services provider reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.03. Teladoc had a negative net margin of 53.58% and a negative return on equity of 24.73%. The company had revenue of $42.90 million during the quarter, compared to analysts’ expectations of $42.22 million. During the same quarter in the prior year, the company earned ($0.40) EPS. The firm’s revenue was up 59.5% on a year-over-year basis. Equities research analysts expect that Teladoc will post ($0.88) EPS for the current year.
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In other Teladoc news, CEO Jason N. Gorevic sold 15,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $23.11, for a total value of $346,650.00. Following the completion of the transaction, the chief executive officer now directly owns 833,261 shares in the company, valued at approximately $19,256,661.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Hirschhorn sold 59,100 shares of the company’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $25.46, for a total transaction of $1,504,686.00. Following the completion of the transaction, the vice president now owns 180,887 shares of the company’s stock, valued at $4,605,383.02. The disclosure for this sale can be found here. Insiders sold a total of 232,480 shares of company stock valued at $6,439,354 over the last 90 days. Company insiders own 5.94% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of Teladoc during the first quarter valued at about $6,411,000. Blair William & Co. IL acquired a new position in shares of Teladoc during the first quarter valued at about $218,000. State Street Corp raised its position in shares of Teladoc by 2.5% in the fourth quarter. State Street Corp now owns 381,703 shares of the health services provider’s stock valued at $6,309,000 after buying an additional 9,146 shares during the last quarter. FMR LLC raised its position in shares of Teladoc by 35.0% in the fourth quarter. FMR LLC now owns 3,075,000 shares of the health services provider’s stock valued at $50,738,000 after buying an additional 796,647 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Teladoc by 8,826.7% in the first quarter. JPMorgan Chase & Co. now owns 1,606,535 shares of the health services provider’s stock valued at $40,163,000 after buying an additional 1,588,538 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.
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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