Teladoc, Inc. (TDOC) Earns Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Teladoc, Inc. (NYSE:TDOC) in a research report report published on Friday, July 28th. Piper Jaffray Companies currently has a $42.00 price target on the health services provider’s stock.

Other research analysts also recently issued reports about the company. Chardan Capital boosted their price target on Teladoc from $30.00 to $41.00 and gave the company a buy rating in a report on Tuesday, June 20th. Canaccord Genuity reissued a buy rating and issued a $42.00 price target (up from $34.00) on shares of Teladoc in a report on Tuesday, June 20th. Craig Hallum downgraded Teladoc from a buy rating to a hold rating and boosted their price target for the company from $28.00 to $32.00 in a report on Friday, May 12th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $40.00 price target (up from $27.00) on shares of Teladoc in a report on Friday, June 9th. Finally, BidaskClub downgraded Teladoc from a buy rating to a hold rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $35.55.

Teladoc (TDOC) traded up 3.00% during midday trading on Friday, reaching $32.65. 883,985 shares of the company’s stock were exchanged. Teladoc has a 52 week low of $14.00 and a 52 week high of $36.90. The firm’s market capitalization is $1.79 billion. The firm’s 50 day moving average is $34.27 and its 200 day moving average is $27.04.

Teladoc (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.02. Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The company had revenue of $44.60 million during the quarter, compared to analyst estimates of $44.39 million. During the same period in the previous year, the firm posted ($0.38) earnings per share. The company’s revenue was up 68.3% compared to the same quarter last year. On average, equities analysts anticipate that Teladoc will post ($1.33) earnings per share for the current year.

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In related news, VP Mark Hirschhorn sold 100,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $27.70, for a total value of $2,770,000.00. Following the completion of the transaction, the vice president now directly owns 80,887 shares of the company’s stock, valued at approximately $2,240,569.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 5,600 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $29.57, for a total value of $165,592.00. Following the completion of the transaction, the chief executive officer now directly owns 823,861 shares of the company’s stock, valued at $24,361,569.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,380 shares of company stock valued at $4,459,268. 5.94% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can bought a new stake in shares of Teladoc during the first quarter valued at about $105,000. US Bancorp DE boosted its stake in shares of Teladoc by 10.3% in the first quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock valued at $116,000 after buying an additional 433 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Teladoc by 214.2% in the second quarter. Bank of Montreal Can now owns 3,516 shares of the health services provider’s stock valued at $123,000 after buying an additional 2,397 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Teladoc by 66.3% in the first quarter. Legal & General Group Plc now owns 6,137 shares of the health services provider’s stock valued at $154,000 after buying an additional 2,446 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of Teladoc during the first quarter valued at about $175,000. 95.88% of the stock is owned by hedge funds and other institutional investors.

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.