Teladoc’s (TDOC) “Buy” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Teladoc, Inc. (NYSE:TDOC) in a report released on Friday. The brokerage currently has a $32.00 price target on the health services provider’s stock.

TDOC has been the subject of a number of other reports. TheStreet downgraded shares of Teladoc from a c- rating to a d rating in a research note on Monday, July 3rd. Chardan Capital boosted their price target on shares of Teladoc from $28.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, May 9th. Robert W. Baird reissued an outperform rating and set a $33.00 price target (up from $28.00) on shares of Teladoc in a research note on Friday, June 16th. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $40.00 price target (up from $27.00) on shares of Teladoc in a research note on Friday, June 9th. Finally, William Blair reissued an outperform rating on shares of Teladoc in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $32.77.

Teladoc (NYSE TDOC) traded up 0.57% during trading on Friday, reaching $35.15. 312,094 shares of the company’s stock were exchanged. The company’s market capitalization is $1.91 billion. The company’s 50-day moving average is $31.90 and its 200-day moving average is $24.09. Teladoc has a 1-year low of $13.49 and a 1-year high of $36.90.

Teladoc (NYSE:TDOC) last announced its earnings results on Monday, May 8th. The health services provider reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $42.90 million for the quarter, compared to the consensus estimate of $42.22 million. Teladoc had a negative net margin of 53.58% and a negative return on equity of 24.73%. The business’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. Equities research analysts expect that Teladoc will post ($0.88) earnings per share for the current fiscal year.

In related news, CEO Jason N. Gorevic sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $23.11, for a total transaction of $346,650.00. Following the transaction, the chief executive officer now directly owns 833,261 shares of the company’s stock, valued at $19,256,661.71. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael H. King sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $25.75, for a total transaction of $128,750.00. Following the transaction, the insider now directly owns 61,459 shares in the company, valued at $1,582,569.25. The disclosure for this sale can be found here. Insiders sold 232,480 shares of company stock worth $6,439,354 over the last three months. Insiders own 5.94% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Teladoc by 163.5% in the first quarter. FMR LLC now owns 8,103,237 shares of the health services provider’s stock worth $202,581,000 after buying an additional 5,028,237 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 worth $40,163,000 after buying an additional 1,588,538 shares in the last quarter. Alliancebernstein L.P. raised its position in Teladoc by 211.1% in the first quarter. Alliancebernstein L.P. now owns 2,286,200 shares of the health services provider’s stock worth $57,155,000 after buying an additional 1,551,315 shares in the last quarter. Janus Capital Management LLC acquired a new position in Teladoc during the first quarter worth approximately $37,258,000. Finally, Eagle Asset Management Inc. acquired a new position in Teladoc during the first quarter worth approximately $32,598,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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.