Commonwealth Equity Services LLC raised its holdings in shares of Teladoc Inc (NYSE:TDOC) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,464 shares of the health services provider’s stock after purchasing an additional 2,809 shares during the period. Commonwealth Equity Services LLC’s holdings in Teladoc were worth $1,420,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Columbus Circle Investors lifted its position in Teladoc by 9.8% during the 2nd quarter. Columbus Circle Investors now owns 442,488 shares of the health services provider’s stock valued at $25,686,000 after purchasing an additional 39,503 shares during the period. Garner Asset Management Corp acquired a new position in Teladoc during the 2nd quarter valued at about $200,000. Sivik Global Healthcare LLC acquired a new position in Teladoc during the 1st quarter valued at about $1,612,000. Handelsbanken Fonder AB acquired a new position in Teladoc during the 2nd quarter valued at about $2,612,000. Finally, Wells Fargo & Company MN lifted its position in Teladoc by 20.2% during the 1st quarter. Wells Fargo & Company MN now owns 616,056 shares of the health services provider’s stock valued at $24,826,000 after purchasing an additional 103,626 shares during the period.
In related news, President Peter A. Mcclennen sold 91,072 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $65.84, for a total transaction of $5,996,180.48. Following the completion of the sale, the president now directly owns 61,660 shares of the company’s stock, valued at approximately $4,059,694.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam C. Vandervoort sold 24,250 shares of the stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $64.28, for a total value of $1,558,790.00. Following the sale, the insider now directly owns 12,272 shares of the company’s stock, valued at $788,844.16. The disclosure for this sale can be found here. Insiders sold a total of 253,745 shares of company stock worth $16,547,452 over the last quarter. 3.95% of the stock is currently owned by corporate insiders.
Shares of NYSE:TDOC opened at $73.95 on Monday. The company has a market capitalization of $5.00 billion, a P/E ratio of -44.82 and a beta of 0.40. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.14 and a current ratio of 3.14. Teladoc Inc has a fifty-two week low of $27.30 and a fifty-two week high of $73.95.
Teladoc (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, August 1st. The health services provider reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $94.60 million for the quarter, compared to the consensus estimate of $91.56 million. Teladoc had a negative net margin of 37.78% and a negative return on equity of 19.10%. Teladoc’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same period last year, the company posted ($0.28) EPS. analysts forecast that Teladoc Inc will post -1.48 EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. Leerink Swann assumed coverage on shares of Teladoc in a research report on Thursday. They set an “outperform” rating and a $90.00 target price on the stock. SunTrust Banks upped their target price on shares of Teladoc to $77.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Chardan Capital upped their target price on shares of Teladoc from $73.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Teladoc in a research report on Thursday, August 2nd. Finally, Wells Fargo & Co restated a “buy” rating and set a $70.00 target price on shares of Teladoc in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.30.
Teladoc, Inc provides telehealth services worldwide. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.
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