Citigroup Initiates Coverage on Teladoc (TDOC)

Investment analysts at Citigroup began coverage on shares of Teladoc (NYSE:TDOC) in a research note issued on Thursday. The brokerage set a “buy” rating on the health services provider’s stock.

Several other equities research analysts have also issued reports on the company. ValuEngine raised Teladoc from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Deutsche Bank began coverage on Teladoc in a research report on Friday, December 8th. They set a “buy” rating and a $39.00 price target on the stock. KeyCorp reissued a “buy” rating and set a $39.00 price target on shares of Teladoc in a research report on Monday, December 4th. CIBC reissued an “outperform” rating and set a $45.00 price target (up from $40.00) on shares of Teladoc in a research report on Tuesday, November 21st. Finally, Oppenheimer upped their price target on Teladoc from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Teladoc currently has an average rating of “Buy” and a consensus target price of $39.15.

Teladoc (NYSE TDOC) opened at $37.50 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.08 and a current ratio of 5.08. The company has a market capitalization of $2,270.00 and a P/E ratio of -25.86. Teladoc has a one year low of $15.65 and a one year high of $38.40.

Teladoc (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, November 1st. The health services provider reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.25). The firm had revenue of $68.70 million for the quarter, compared to analyst estimates of $67.53 million. Teladoc had a negative net margin of 39.61% and a negative return on equity of 21.59%. The business’s revenue was up 112.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) earnings per share. sell-side analysts anticipate that Teladoc will post -1.56 earnings per share for the current year.

In other Teladoc news, VP Mark Hirschhorn sold 35,000 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $32.84, for a total value of $1,149,400.00. Following the sale, the vice president now directly owns 20,887 shares of the company’s stock, valued at $685,929.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason N. Gorevic sold 100,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $32.99, for a total value of $3,299,000.00. Following the completion of the sale, the chief executive officer now directly owns 718,261 shares in the company, valued at $23,695,430.39. The disclosure for this sale can be found here. Insiders sold 210,000 shares of company stock worth $6,889,350 over the last ninety days. 4.47% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of TDOC. Janus Henderson Group PLC acquired a new position in shares of Teladoc during the second quarter valued at $58,287,000. Bamco Inc. NY increased its holdings in shares of Teladoc by 751.9% during the third quarter. Bamco Inc. NY now owns 1,455,900 shares of the health services provider’s stock valued at $48,263,000 after purchasing an additional 1,285,000 shares during the period. BlackRock Inc. increased its holdings in shares of Teladoc by 42.9% during the second quarter. BlackRock Inc. now owns 3,844,402 shares of the health services provider’s stock valued at $133,400,000 after purchasing an additional 1,154,852 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Teladoc during the third quarter valued at $35,360,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Teladoc by 65.8% during the second quarter. JPMorgan Chase & Co. now owns 2,663,600 shares of the health services provider’s stock valued at $92,426,000 after purchasing an additional 1,057,065 shares during the period.

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About Teladoc

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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