Teladoc (NYSE:TDOC) Given a $42.00 Price Target at Canaccord Genuity

Teladoc (NYSE:TDOC) received a $42.00 price objective from equities research analysts at Canaccord Genuity in a report released on Friday, November 17th. The firm presently has a “buy” rating on the health services provider’s stock. Canaccord Genuity’s price objective points to a potential upside of 25.00% from the stock’s previous close.

Several other equities research analysts also recently commented on TDOC. Cowen reaffirmed an “outperform” rating and set a $39.00 target price (up from $36.00) on shares of Teladoc in a report on Thursday, August 3rd. SunTrust Banks reissued a “buy” rating and set a $40.00 price target on shares of Teladoc in a research report on Friday, November 3rd. BidaskClub lowered Teladoc from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Cantor Fitzgerald reiterated a “hold” rating on shares of Teladoc in a research note on Monday, August 28th. Finally, Robert W. Baird downgraded Teladoc from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $36.00 in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Teladoc presently has an average rating of “Buy” and a consensus price target of $39.17.

Teladoc (TDOC) traded down $2.10 during trading on Friday, reaching $33.60. The company had a trading volume of 1,234,816 shares, compared to its average volume of 956,642. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 0.83. Teladoc has a 12-month low of $15.65 and a 12-month high of $37.90.

Teladoc (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, November 1st. The health services provider reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.25). The firm had revenue of $68.70 million during the quarter, compared to the consensus estimate of $67.53 million. Teladoc had a negative net margin of 39.61% and a negative return on equity of 21.59%. Teladoc’s revenue was up 112.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share. sell-side analysts expect that Teladoc will post -1.57 EPS for the current year.

In related news, VP Mark Hirschhorn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $34.04, for a total value of $340,400.00. 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 that occurred on Thursday, November 2nd. The shares were sold at an average price of $32.10, for a total value of $642,000.00. Following the completion of the sale, the chief executive officer now owns 838,261 shares of the company’s stock, valued at $26,908,178.10. The disclosure for this sale can be found here. Insiders sold a total of 265,000 shares of company stock worth $8,697,400 in the last three months. Company insiders own 4.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Teladoc by 1.3% during the second quarter. FMR LLC now owns 8,209,737 shares of the health services provider’s stock worth $284,879,000 after buying an additional 106,500 shares in the last quarter. 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 worth $133,400,000 after buying an additional 1,154,852 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Teladoc by 24.4% during the third quarter. JPMorgan Chase & Co. now owns 3,313,729 shares of the health services provider’s stock worth $108,193,000 after buying an additional 650,129 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Teladoc by 11.5% during the second quarter. Vanguard Group Inc. now owns 3,041,725 shares of the health services provider’s stock worth $105,547,000 after buying an additional 314,646 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Teladoc by 22.2% during the second quarter. Alliancebernstein L.P. now owns 2,793,590 shares of the health services provider’s stock worth $96,938,000 after buying an additional 507,390 shares in the last quarter.

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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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