BlackRock Advisors LLC boosted its stake in Teladoc Inc. (NYSE:TDOC) by 3.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 445,970 shares of the company’s stock after buying an additional 13,546 shares during the period. BlackRock Advisors LLC owned about 0.98% of Teladoc worth $7,145,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Airain ltd bought a new stake in shares of Teladoc during the second quarter valued at approximately $200,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Teladoc during the second quarter valued at about $240,000. Spark Investment Management LLC acquired a new position in shares of Teladoc during the first quarter valued at about $244,000. Thompson Davis & CO. Inc. acquired a new position in shares of Teladoc during the second quarter valued at about $252,000. Finally, Harbourvest Partners LLC acquired a new position in shares of Teladoc during the first quarter valued at about $436,000. Institutional investors own 40.45% of the company’s stock.
Shares of Teladoc Inc. (NYSE:TDOC) opened at 16.31 on Thursday. The company has a 50-day moving average price of $18.08 and a 200-day moving average price of $14.60. The stock’s market capitalization is $745.45 million. Teladoc Inc. has a 52-week low of $9.08 and a 52-week high of $22.00.
Teladoc (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.01. Teladoc had a negative return on equity of 33.97% and a negative net margin of 60.88%. The company had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $28.20 million. During the same period in the previous year, the firm posted ($0.46) EPS. Teladoc’s revenue was up 44.9% compared to the same quarter last year. On average, equities analysts anticipate that Teladoc Inc. will post ($1.45) earnings per share for the current year.
Several brokerages have issued reports on TDOC. Zacks Investment Research lowered Teladoc from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. FBR & Co reissued a “buy” rating on shares of Teladoc in a research note on Sunday, August 28th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $24.00 price target (down from $25.00) on shares of Teladoc in a research note on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $21.00 price target (down from $22.00) on shares of Teladoc in a research note on Friday, August 5th. Finally, Deutsche Bank AG dropped their price target on Teladoc from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Teladoc currently has an average rating of “Buy” and a consensus price target of $22.90.
In other news, insider Adam C. Vandervoort sold 52,865 shares of Teladoc stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $16.64, for a total transaction of $879,673.60. Following the sale, the insider now owns 46,685 shares of the company’s stock, valued at approximately $776,838.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jason N. Gorevic sold 5,000 shares of Teladoc stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $15.45, for a total transaction of $77,250.00. Following the sale, the chief executive officer now directly owns 932,258 shares in the company, valued at approximately $14,403,386.10. The disclosure for this sale can be found here. 5.94% of the stock is owned by corporate insiders.
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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