RMB Capital Management LLC purchased a new stake in shares of Teladoc, Inc. (NYSE:TDOC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,970 shares of the health services provider’s stock, valued at approximately $824,000.
A number of other institutional investors have also recently modified their holdings of the stock. Swiss National Bank increased its position in shares of Teladoc by 37.5% in the first quarter. Swiss National Bank now owns 56,800 shares of the health services provider’s stock valued at $1,420,000 after buying an additional 15,500 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Teladoc by 115.3% in the first quarter. Bank of New York Mellon Corp now owns 227,360 shares of the health services provider’s stock valued at $5,683,000 after buying an additional 121,736 shares in the last quarter. US Bancorp DE increased its position 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 in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Teladoc during the first quarter valued at $105,000. Finally, Wells Fargo & Company MN increased its position in shares of Teladoc by 43.8% in the first quarter. Wells Fargo & Company MN now owns 543,568 shares of the health services provider’s stock valued at $13,589,000 after buying an additional 165,435 shares in the last quarter. 94.61% of the stock is currently owned by institutional investors and hedge funds.
Teladoc, Inc. (NYSE TDOC) traded up 1.574% during trading on Friday, hitting $33.875. 564,568 shares of the stock traded hands. The stock’s market cap is $1.84 billion. Teladoc, Inc. has a 52-week low of $12.31 and a 52-week high of $34.60. The stock has a 50 day moving average price of $29.23 and a 200-day moving average price of $22.89.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Monday, May 8th. The health services provider reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Teladoc had a negative return on equity of 24.73% and a negative net margin of 53.58%. The company had revenue of $42.90 million for the quarter, compared to analyst estimates of $42.22 million. During the same quarter last year, the firm posted ($0.40) EPS. The firm’s revenue for the quarter was up 59.5% on a year-over-year basis. On average, analysts anticipate that Teladoc, Inc. will post ($0.88) EPS for the current fiscal year.
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Several equities analysts have weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $40.00 price target (up previously from $27.00) on shares of Teladoc in a report on Friday, June 9th. Zacks Investment Research raised shares of Teladoc from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. CIBC lifted their price target on shares of Teladoc from $27.00 to $40.00 and gave the company an “outperform” rating in a report on Monday. Craig Hallum downgraded shares of Teladoc from a “buy” rating to a “hold” rating and lifted their price target for the company from $28.00 to $32.00 in a report on Friday, May 12th. Finally, Cowen and Company lifted their price target on shares of Teladoc from $29.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.92.
In other Teladoc news, VP Mark Hirschhorn sold 59,100 shares of Teladoc stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $25.46, for a total value of $1,504,686.00. Following the completion of the transaction, the vice president now directly owns 180,887 shares of the company’s stock, valued at approximately $4,605,383.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael H. King sold 5,000 shares of Teladoc stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $25.75, for a total value of $128,750.00. Following the completion of the transaction, the insider now directly owns 61,459 shares of the company’s stock, valued at $1,582,569.25. The disclosure for this sale can be found here. Insiders have sold a total of 232,480 shares of company stock valued at $6,439,354 over the last three months. Corporate insiders own 5.94% of the company’s stock.
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.
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