The Teladoc’s (TDOC) Buy Rating Reaffirmed at Canaccord Genuity

The Teladoc’s (TDOC) Buy Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of Teladoc, Inc. (NYSE:TDOC) in a report released on Friday morning. They currently have a $24.00 price target on the stock.

TDOC has been the topic of several other research reports. Zacks Investment Research downgraded shares of Teladoc from a buy rating to a hold rating in a research note on Wednesday, January 11th. Oppenheimer Holdings, Inc. set a $23.00 price target on shares of Teladoc and gave the stock a buy rating in a research report on Sunday, October 30th. Craig Hallum began coverage on shares of Teladoc in a research report on Monday, November 28th. They set a buy rating and a $24.00 price target on the stock. Chardan Capital began coverage on shares of Teladoc in a research report on Wednesday, November 16th. They set a buy rating and a $24.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Teladoc in a research report on Thursday, January 5th. They set an overweight rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $23.07.

Teladoc (NYSE:TDOC) opened at 17.00 on Friday. Teladoc has a 52 week low of $9.08 and a 52 week high of $19.53. The firm’s market cap is $782.54 million. The stock has a 50 day moving average of $17.32 and a 200 day moving average of $17.28.

Teladoc (NYSE:TDOC) last issued its earnings results on Thursday, October 27th. The company reported ($0.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.03. Teladoc had a negative net margin of 69.15% and a negative return on equity of 32.68%. The company had revenue of $32.40 million for the quarter, compared to the consensus estimate of $32.29 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The firm’s revenue for the quarter was up 62.0% compared to the same quarter last year. Analysts anticipate that Teladoc will post ($1.43) EPS for the current year.

In related news, major shareholder Lp Chp III sold 500,000 shares of the stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $16.36, for a total transaction of $8,180,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark Hirschhorn sold 5,000 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $17.50, for a total value of $87,500.00. Following the sale, the vice president now directly owns 250,887 shares of the company’s stock, valued at $4,390,522.50. The disclosure for this sale can be found here. 5.94% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust boosted its stake in Teladoc by 1.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 502,313 shares of the company’s stock worth $8,047,000 after buying an additional 6,578 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Teladoc by 3.2% in the second quarter. Emerald Advisers Inc. PA now owns 394,742 shares of the company’s stock worth $6,324,000 after buying an additional 12,180 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Teladoc by 55.9% in the second quarter. Bank of New York Mellon Corp now owns 64,138 shares of the company’s stock worth $1,027,000 after buying an additional 22,997 shares during the last quarter. California State Teachers Retirement System boosted its stake in Teladoc by 116.8% in the second quarter. California State Teachers Retirement System now owns 43,509 shares of the company’s stock worth $697,000 after buying an additional 23,438 shares during the last quarter. Finally, Airain ltd acquired a new stake in Teladoc during the second quarter worth about $200,000. 53.34% of the stock is owned by institutional investors and hedge funds.

About Teladoc

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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