TD Asset Management Inc. purchased a new position in shares of Teladoc Inc (NYSE:TDOC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 68,100 shares of the health services provider’s stock, valued at approximately $2,258,000. TD Asset Management Inc. owned 0.12% of Teladoc as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in the business. American International Group Inc. boosted its position in Teladoc by 8.1% during the 3rd quarter. American International Group Inc. now owns 36,079 shares of the health services provider’s stock worth $1,196,000 after acquiring an additional 2,697 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Teladoc during the 3rd quarter worth $262,000. Columbus Circle Investors boosted its position in Teladoc by 75.4% during the 3rd quarter. Columbus Circle Investors now owns 743,327 shares of the health services provider’s stock worth $24,641,000 after acquiring an additional 319,578 shares during the period. Macquarie Group Ltd. boosted its position in Teladoc by 31.7% during the 3rd quarter. Macquarie Group Ltd. now owns 156,216 shares of the health services provider’s stock worth $5,179,000 after acquiring an additional 37,566 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Teladoc by 119.6% in the third quarter. Ameriprise Financial Inc. now owns 200,848 shares of the health services provider’s stock valued at $6,658,000 after buying an additional 109,373 shares during the period.
Several brokerages have recently weighed in on TDOC. BidaskClub upgraded Teladoc from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. CIBC restated an “outperform” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Teladoc in a report on Tuesday, November 21st. KeyCorp restated a “buy” rating and issued a $37.00 price objective on shares of Teladoc in a report on Sunday, September 17th. Cantor Fitzgerald restated a “hold” rating and issued a $31.00 price objective on shares of Teladoc in a report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded Teladoc from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $39.15.
Teladoc (NYSE:TDOC) last announced its earnings results on Wednesday, November 1st. The health services provider reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.25). The company had revenue of $68.70 million for the quarter, compared to analyst estimates of $67.53 million. Teladoc had a negative return on equity of 21.59% and a negative net margin of 39.61%. The firm’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same period last year, the firm earned ($0.33) earnings per share. equities research analysts predict that Teladoc Inc will post -1.57 EPS for the current fiscal year.
In other news, VP Mark Hirschhorn sold 25,000 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $31.93, for a total transaction of $798,250.00. Following the sale, the vice president now directly owns 64,987 shares of the company’s stock, valued at $2,075,034.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 20,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $32.10, for a total value of $642,000.00. Following the sale, the chief executive officer now directly owns 838,261 shares in the company, valued at $26,908,178.10. The disclosure for this sale can be found here. Insiders have sold 265,000 shares of company stock worth $8,697,400 over the last ninety days. 4.47% of the stock is owned by insiders.
Teladoc Company Profile
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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