Great West Life Assurance Co. Can purchased a new stake in Teladoc, Inc. (NYSE:TDOC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,200 shares of the health services provider’s stock, valued at approximately $105,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Teladoc by 43.8% in the first quarter. Wells Fargo & Company MN now owns 543,568 shares of the health services provider’s stock worth $13,589,000 after buying an additional 165,435 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Teladoc during the first quarter worth about $583,000. First Mercantile Trust Co. purchased a new stake in shares of Teladoc during the first quarter worth about $175,000. Peregrine Capital Management LLC boosted its stake in shares of Teladoc by 24.1% in the first quarter. Peregrine Capital Management LLC now owns 903,384 shares of the health services provider’s stock worth $22,539,000 after buying an additional 175,158 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Teladoc by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 35,205 shares of the health services provider’s stock worth $581,000 after buying an additional 1,759 shares during the last quarter. 93.69% of the stock is owned by institutional investors and hedge funds.
Shares of Teladoc, Inc. (NYSE:TDOC) traded up 3.85% during midday trading on Friday, reaching $33.75. The company’s stock had a trading volume of 1,214,949 shares. The company’s market capitalization is $1.84 billion. The stock has a 50 day moving average price of $34.39 and a 200-day moving average price of $26.63. Teladoc, Inc. has a 52-week low of $13.49 and a 52-week high of $36.90.
Teladoc (NYSE:TDOC) last announced its earnings results on Monday, May 8th. The health services provider reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The business had revenue of $42.90 million during the quarter, compared to analyst estimates of $42.22 million. Teladoc had a negative return on equity of 24.73% and a negative net margin of 53.58%. Teladoc’s revenue for the quarter was up 59.5% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. Equities research analysts expect that Teladoc, Inc. will post ($0.75) EPS for the current year.
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TDOC has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating and set a $34.00 target price on shares of Teladoc in a report on Wednesday, May 24th. Robert W. Baird restated a “buy” rating and issued a $28.00 price target on shares of Teladoc in a report on Tuesday, May 9th. Chardan Capital upped their price target on Teladoc from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $32.00 target price on shares of Teladoc in a research report on Friday, July 14th. Finally, TheStreet raised Teladoc from a “d” rating to a “c-” rating in a research report on Thursday, April 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Teladoc currently has an average rating of “Buy” and an average price target of $33.54.
In other Teladoc news, CEO Jason N. Gorevic sold 15,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $23.11, for a total transaction of $346,650.00. Following the completion of the sale, the chief executive officer now directly owns 833,261 shares in the company, valued at approximately $19,256,661.71. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Mark Hirschhorn sold 100,000 shares of the stock in a transaction dated 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 sale, the vice president now owns 80,887 shares of the company’s stock, valued at $2,240,569.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,380 shares of company stock valued at $4,805,918. 5.94% of the stock is owned by corporate insiders.
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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